 |
|
ICBC's Institute of Urban Finance
forecast that China's economy would grow at a sizzling pace of 11.3
percent this year, with the full-year inflation rate of 4.5 percent,
compared with the government target of three percent.(File
photo)
Photo
Gallery>>> |
BEIJING,
Nov. 11 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), the
country's biggest lender, is predicting in a recent report that China's reserve
ratio requirement for commercial banks will probably reach 15 percent in 2008.
China has raised the reserve ratio for nine times
this year to a ten-year high of 13.5 percent in an effort to ease excess
liquidity that is pushing the economy to the verge of overheating.
The report from ICBC's Institute of Urban Finance
forecast that China's economy would grow at a sizzling pace of 11.3 percent this
year, with the full-year inflation rate of 4.5 percent, compared with the
government target of three percent.
The central bank was also predicted to raise interest
rates for the sixth time this year amid growing concerns over rising inflation,
according to the report.
"To make the real interest rate positive as soon as
possible, the central bank is likely to raise the benchmark rates by another 27
basis points by the end of the year," said the report.
China's commercial banks would lend out a total 3.8
trillion yuan (506.7 billion U.S. dollars) for the whole of 2007, compared with
last year's 3.18 trillion yuan, said the report.
The M2, which covers cash in circulation plus all
deposits, would grow by 18 percent this year, it added.
Expert: China's excess liquidity surpasses central bank's
expectations
BEIJING, Nov. 11
(Xinhua) -- A senior researcher with the Chinese Academy of Social Sciences
(CASS) on Sunday said the latest reserve requirement ratio hike has revealed
that China's excess liquidity has risen beyond the expectations of the central
bank. Full story
China to raise reserve requirement
ratio for 9th time
BEIJING, Nov. 10 (Xinhua) -- China will raise the reserve requirement ratio by half a percentage point for commercial banks in an effort to cool the
booming economy, the People's Bank of China said Saturday. Full story
Central bank to further check excess
liquidity, inflation
BEIJING, Nov. 8 (Xinhua) -- The People's Bank of China
(PBOC) announced Thursday it might use a variety of measures, including bank and
treasury bond issues and reserve requirement ratios, to control the country's
"severe" liquidity problem. Full story
Year-on-year inflation likely to be
4.5%
BEIJING, Nov. 9 -- China's economic growth is expected to
exceed 11 percent for 2007 and growth in the consumer price index (CPI), the
main measure for inflation, will be around 4.5 percent year-on-year, the central
bank said Thursday. Full story
China's CPI up 4.1% in first nine
months
BEIJING, Oct. 25 (Xinhua) -- China's consumer
price index, a key inflation indicator, rose by 4.1 percent in the first nine
months over the same period last year, the National Bureau of Statistics (NBS)
announced on Thursday. Full story
China's GDP growth hits 11.5% in first
nine months
BEIJING, Oct. 25 (Xinhua) -- China's GDP was up
11.5 percent in the first nine months from the corresponding period last year,
said the National Bureau of Statistics (NBS) here on Thursday. Full story
