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Experts predict central bank's policies to be variable

English.news.cn   2014-01-13 14:31:05            

BEIJING, Jan. 13 (Xinhua) -- Experts predict the Chinese central bank's monetary policy to be variable this year as both global and domestic markets face uncertainties.

The monetary policies of the Chinese central bank will differ from 2013 and will be variable instead of remaining linear, Lu Zhengwei, chief economist at the Industrial Bank, said in Monday's Economic Information newspaper.

Aside from uncertainties in global markets, domestic economic situations will also be volatile, as most forecast the economic growth rate in 2014 to be lower than that of 2013, said Zhao Qingming, a finance researcher.

The remarks followed a briefing issued on Friday following the 2014 work conference of the People's Bank of China, or the central bank.

In the conference, the central bank changed its wording for 2014 macro-control policies. The policies will be "more prospective, focused and coordinated," unlike the 2013 macro-control policy, which emphasized "maintaining policies' continuity and stability," according to the briefing.

Lu said that around mid-year 2014, China might fine-tune its monetary policy.

In response to tapering of quantitative easing by the U.S. Fed, China's reserve requirements ratio might be lowered in 2014, according to Lu. A lower reserve requirements ratio means looser monetary policies.

China has kept a proactive fiscal policy since late 2008, when the country unveiled a 4-trillion-yuan (654.7 billion U.S. dollars) stimulus package to counter the impact of the global financial crisis. Its monetary policy has been prudent since late 2010.

China will publicize its economic performance on Jan. 20. The country set its 2013 growth rate target at 7.5 percent.


China to expand cross-border use of RMB: PBOC

BEIJING, Jan. 10 (Xinhua) -- China will continue to expand the cross-border use of the Chinese currency, the Renminbi or yuan, this year, China's central bank said Friday.

The Chinese yuan's cross-border settlement reached 3.64 trillion yuan(596.6 billion U.S.dollars) in the first eleven months of 2013, which was 350 times the amount in 2009, the People's Bank of China (PBOC) said at a work-planning meeting. Full story

Xinhua Insight: China's CPI inflation eases, favorable to policymakers

BEIJING, Jan. 9 (Xinhua) -- Thursday's figures showed China's consumer price index (CPI) inflation rose lower than expected in December to a seven-month low.

December's CPI -- a main gauge of inflation -- rose 2.5 percent year on year, down from 3 percent in November and 3.2 percent in October, the National Bureau of Statistics (NBS) said. Full story

China's economy projected to grow steadily, dynamically: economists

NEW YORK, Jan. 6 (Xinhua) -- China would maintain steady and dynamic economic growth in 2014 on the back of its ongoing reforms, economists said at a forum here Monday.

The forum was co-organized by the New York-based National Committee on U.S.-China Relations and China Center for Economic Research (CCER) with Peking University (PKU). Full story

Editor: Shen Qing
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