PBoC chief rules out major stimulus to boost economy
China will not use any large-scale stimulus to boost its economy at the moment, Oriental Morning Post reported Sunday, citing People's Bank of China governor Zhou Xiaochuan.
Asked whether the central bank will consider cutting the deposit reserve requirement ratio for commercial banks, Zhou told a forum in Beijing that short-term economic data does not necessarily confirm there are problems and any conclusion must be prudent. He also said the PBoC is always fine-tuning its policies, although some of its actions may not be visible to the market.
His comments came after China’s consumer price index, a main gauge of inflation, rose 1.8 percent in April from a year earlier, down from a 2.4 percent growth in the previous month. The country's GDP grew 7.4 percent in the first quarter from a year ago, its lowest expansion in 18 months.
In the first-quarter report on monetary policy Thursday, the central bank pledged to maintain continuity and stability of its policy as well as to take initiatives to conduct timely fine-tuning.
-- Contact us at [email protected]
TL/AC/CG
-
Jordan lockdown ended, 13 virus cases detected
The government on Monday morning ended the lockdown restrictions on a block of streets in Jordan. The recent centre of a Covid-19 outbreak was sealed off early on Saturday More than 7,000 people in
-
Official blames late start of vaccination programme on logistics
When grilled on why Hong Kong has been slower to kickoff the Covid vaccination programme compared to other places like Singapore, Health Secretary Sophia Chan put the blame on logistics issues,
-
Vaccine experts: Protect the most vulnerable first
Given the uncertainty of the approval of mainland-made vaccines from Sinovac in the absence of enough clinical data, experts advising the government on its vaccination programme concluded that there
-
Flower markets crowd control measures hinge on Covid situation
Health officials these days are busy handling the coronavirus outbreak in Yau Tsim Mong region, while at the same time revving up the pandemic preventive measures for the upcoming Lunar New Year
-
No flower? No, flower! Ben Kwok
Flower growers in Hong Kong must have felt perplexed upon knowing the Lunar New Year Fair is back this year. Our government changed its mind and reversed its earlier decision to suspend the 15 flower
