The Deposit Reserve Rate Will Be Increased By 0.5 Percentage Points &Nbsp, And Money And Credit Control Will Be Controlled.
According to the central bank website news, in order to strengthen liquidity management, moderate regulation and control
Money and credit
,
People's Bank of China
It is decided to raise the RMB of deposit financial institutions from November 29, 2010.
Deposit reserve ratio
0.5 percentage points.
The people's Bank of China announced on the evening of 19, that it will increase the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from November 29, 2010.
The central bank said the move was aimed at strengthening liquidity management and appropriately controlling money and credit.
The last time the central bank announced the increase in the deposit reserve ratio was just implemented on the 16 th of this month.
Analysts said that the continuous increase in the deposit reserve ratio in a short time reflects the determination of the central bank to recover excess liquidity to manage the overall monetary situation.
Chinese Premier Wen Jiabao said on Tuesday that the vital interests of the masses in market supply and demand and price relations must be highly valued.
The State Council is drawing up measures to curb the excessive price rise.
Zhou Xiaochuan, governor of the people's Bank of China, also pointed out on the same day that the upward pressure on prices needs attention.
JP Morgan believes that there is no serious interruption of food supply in China at present, unlike the 2008 price rise caused by supply shortages.
The experts predict that the central bank will continue to implement liquidity control through intensive capital freeze and further credit control in the coming months. The deposit reserve ratio will continue to rise in the future, and the possibility of raising interest rates during the year will still be greater.
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