Foreign Reserves Exceeded 3 Trillion And And 3 Months, Foreign Exchange Accounted For A Surge

The figures released yesterday by the people's Bank of China (PBC) show that as of the end of 3 2011, the balance of China's foreign exchange reserves exceeded 3 trillion US dollars for the first time, reaching 30447 billion US dollars. In the first quarter of this year, China foreign exchange reserve An increase of $197 billion 400 million.

It is noteworthy that by the end of 3, the foreign exchange balance was 23 trillion and 700 billion yuan. According to this calculation, the new foreign remittance in March was 407 billion 900 million yuan, an increase of 90% over the 214 billion 500 million yuan in February, after the October and January October of more than 500 billion yuan. Because the surplus was not obvious in March this year, the sudden increase in foreign exchange accounted for " hot money The possibility of inflow is increasing.

Reconsidering control Inflation Is still the next stage of the primary policy indicators, the current generally expect the two quarter will continue to "tight", especially in the short term, the central bank may again raise the deposit reserve ratio.

Shi Lei, research director of Ping An Securities fixed income division, said that in the case of more foreign currency holdings, the liquidity released or needs to be used. Reserve requirement raised Rate to tighten.

However, considering the cumulative effect of tight monetary policy, some scholars now expect that the tightening of monetary policy will be reduced in the future, the frequency of interest rate and reserve ratio will be slowed down, the tools will be more flexible, the use of central banks will be more frequent and the exchange rate elasticity will increase.