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In The Second Half Of The Year, Monetary Policy Is Set In Tone: Continue To Moderately Relax.

2010/7/10 9:48:00 30

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Monetary Policy

A meeting of the monetary policy committee held in the second quarter of 2010 was held for the second half of the year.

monetary policy

The direction is direction.

The meeting pointed out that in the second half of the year, we should continue to implement moderately.

Easy

The monetary policy should maintain the continuity and stability of policies, enhance the pertinence and flexibility of regulation, and grasp the intensity, rhythm and emphasis of policy implementation.

We should pay close attention to the development of the economic and financial situation, flexibly apply various monetary policy tools, keep monetary and credit growth moderately, continue to implement the credit policy of "maintaining control", adjust and optimize the credit structure, further improve the RMB exchange rate formation mechanism, adhere to the market supply as the basis, adjust with reference to a basket of currencies, strengthen systemic risk prevention, and maintain the healthy and stable development of the financial system.

The conference held that the world economy is gradually recovering, but there is still much uncertainty.

China's economy has maintained a good momentum of recovery. The coordination of consumption, investment and exports has led to an increase in economic growth. The economy is heading for the direction of macro regulation and control.

Managed inflation

It is still arduous to expect and maintain steady and rapid economic development, readjust the economic structure and pform the mode of economic development.

The meeting held that in the first half of the year, China's monetary and credit growth was reasonable, the liquidity of the banking system was basically moderate, and the reform of the RMB exchange rate formation mechanism was steadily advancing, and the financial operation was generally stable.

Industry insiders predict that the first half of this year, the growth of money and credit basically achieved the established target at the beginning of the year.

The new credit is about 4 trillion and 500 billion, and the M2 growth rate has dropped sharply compared with the beginning of the year, and is expected to fall to less than 19%, further approaching the 17% target set at the beginning of the year.

At present, the focus of China's economic work is moving towards the goal of structural adjustment.

Since the first half of the year, the effect of the superposition of the government on the clearance and regulation of real estate and local government financing platforms has emerged. The industry expects the possibility of further fine-tuning of monetary policy.

Some studies indicate that the fine-tuning in the second half of the year is mainly reflected in liquidity control.

In fact, for seven consecutive weeks, the central bank has injected 888 billion yuan into the market.

However, Lu Zheng commissar, a senior economist at industrial bank, expects that the central bank will adjust the rhythm of credit in the case of maintaining 7 trillion and 500 billion of the total new credit volume unchanged.