Bankers see more monetary loosening
By Hu Xiaocen |
June 20, 2012, Wednesday
|
Print Edition
Print Edition
CHINESE bankers forecast that the government will further ease its monetary stance in the third quarter after the economy continued to slow for nine straight months, while more households are worried about rising consumer prices.
The long economic slowdown pushed the bankers' confidence in the macro-economy down by 6.6 percentage points to 58.4 percent in the second quarter from the previous three months, according to a joint survey by the People's Bank of Chin and the National Bureau of Statistics yesterday.
A sub-index that measures macroeconomic conditions ended below the 50 percent threshold at 33.6 percent for the third consecutive quarter.
Almost a third of the bankers expected further easing in monetary policies in the next quarter, up 25.7 percentage points from the previous report.
The PBOC cut the reserve requirement ratio for commercial banks twice this year by 0.5 percentage point each time.
It also cut interest rates on June 7 for the first time since the end of 2008. New lending rebounded to 793 billion yuan (US$125.5 billion) in May from April's 682 billion yuan.
Households, however, were more concerned about rising consumer prices. According to the survey, 65.7 percent of residents said prices were high and unacceptable, up 2.8 percentage points from the first quarter, while more of them believed prices would rise in the next quarter.
The report noted that households were less satisfied with their current income and more pessimistic about future income. But a sub-index suggested private consumption may climb.
The long economic slowdown pushed the bankers' confidence in the macro-economy down by 6.6 percentage points to 58.4 percent in the second quarter from the previous three months, according to a joint survey by the People's Bank of Chin and the National Bureau of Statistics yesterday.
A sub-index that measures macroeconomic conditions ended below the 50 percent threshold at 33.6 percent for the third consecutive quarter.
Almost a third of the bankers expected further easing in monetary policies in the next quarter, up 25.7 percentage points from the previous report.
The PBOC cut the reserve requirement ratio for commercial banks twice this year by 0.5 percentage point each time.
It also cut interest rates on June 7 for the first time since the end of 2008. New lending rebounded to 793 billion yuan (US$125.5 billion) in May from April's 682 billion yuan.
Households, however, were more concerned about rising consumer prices. According to the survey, 65.7 percent of residents said prices were high and unacceptable, up 2.8 percentage points from the first quarter, while more of them believed prices would rise in the next quarter.
The report noted that households were less satisfied with their current income and more pessimistic about future income. But a sub-index suggested private consumption may climb.
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