Central Bank Chief Stresses Ample Room to Adjust Interest Rates, Reserve Ratios
There’s still ample room for China to adjust banks’ interest rates and reserve requirement ratios, said China’s central bank Governor Yi Gang in Bali, Indonesia on Sunday.
China can achieve its 2018 growth target of around 6.5%, which the government set at the start of the year, or “maybe a little bit higher,” Yi told an international banking seminar that coincided with meetings of the International Monetary Fund and the World Bank.
Yi’s speech comes after the country announced on Oct. 7 this year’s fourth targeted cut to most banks’ reserve requirement ratios, freeing up more than $100 billion of liquidity into the banking system in a bid to boost slowing domestic growth amid escalating trade tensions with the U.S.
Growth in China’s consumer price index (CPI) for 2018 is expected to be slightly more than 2%, while the producer price index (PPI) is estimated to grow between 3% and 4%, Yi said.
China’s current account surplus for 2018 is expected to be less than 1% of the country’s gross domestic product (GDP), Yi said, indicating the world’s second largest economy has relied more on domestic demand.
Contact reporter Lin Jinbing (firstname.lastname@example.org)
Jan 15 05:56 PM
Jan 15 05:49 PM
Jan 15 05:06 PM
Jan 15 02:10 PM
Jan 15 01:25 PM
Jan 14 06:58 PM
Jan 14 06:54 PM
Jan 14 04:42 PM
Jan 14 02:13 PM
Jan 14 01:01 PM
Jan 14 12:51 PM
Jan 14 12:36 PM
Jan 13 07:00 PM
Jan 13 06:47 PM
Jan 13 05:05 PM
- 1Chinese SOEs May Speed Up Delisting U.S. Shares Amid Trump’s Crackdown, Sources Say
- 2Getting out of Liangshan-Part One
- 3China Removes Limits on Credit Card Interest Rates
- 4Cover Story: Why China Faces Handicaps in Antitrust War With Tech Titans
- 5In Depth: China Applies Closer Scrutiny to Sprawling Tech Acquisitions
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas