Global Conditions Looked At In Rate Decision
Source: Agencies |
May 20, 2011, Friday
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Print Edition
Print Edition
CHINA has to take global conditions into consideration in its interest rate policy making process, a Chinese central bank official said yesterday in Shanghai.
"Previously, we only look at demand and supply within China, but now we have to pay attention to the international situation," Wang Xiaoya, vice research head of the People's Bank of China, told the Lujiazui Forum.
"So, when the United States is implementing a zero interest rate policy, we have to think about that in deciding how to use our own interest rate policy tools," she added.
China has raised interest rates twice so far this year, but some economists said higher interest rates may lure new hot money inflows to worsen domestic inflation.
"Previously, we only look at demand and supply within China, but now we have to pay attention to the international situation," Wang Xiaoya, vice research head of the People's Bank of China, told the Lujiazui Forum.
"So, when the United States is implementing a zero interest rate policy, we have to think about that in deciding how to use our own interest rate policy tools," she added.
China has raised interest rates twice so far this year, but some economists said higher interest rates may lure new hot money inflows to worsen domestic inflation.
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