国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

CHINA / National

China must raise interest rates further - economist
(Reuters)
Updated: 2006-07-03 14:32

China must raise interest rates more aggressively to stifle demand for credit that has fuelled an investment boom, an influential government economist said in remarks published on Monday.

Yi Xianrong, an economist at the Chinese Academy of Social Sciences, a top government think-tank, joined a chorus in support of raising borrowing costs to help ward off economic overheating after a slew of tightening measures in recent weeks.

"Many economic problems are a result of low interest rates and therefore raising bank lending and deposit rates would be the best method to resolve the problems," Yi was quoted as saying in a report posted on the official Web site (Chinamoney.com.cn).

"Raising bank lending and deposit rates is imperative."

In late April, the central bank raised the benchmark one-year lending rate to 5.85 percent from 5.58 percent in response to the faster-than-expected economic growth of 10.3 percent in the first quarter, but it kept bank deposit rates unchanged.

The rate rise was the first since October 2004.

Higher yuan interest rates may not necessarily spur inflows of speculative capital betting on the yuan, because the domestic currency market remained largely isolated due to the yuan's limited convertibility, Yi said.

U.S. interest rates exceeded Chinese rates by about 3 percentage points after the Federal Reserve last month lifted rates in its 17th straight quarter percentage point hike, but that failed to cool expectations of a stronger yuan, Yi said.

"China will enter a cycle of raising interest rates as other central banks have already entered such a cycle to tighten liquidity," Yi was quoted as saying.

Analysts say the People's Bank of China, the central bank, has been treading cautionsly to limit capital inflows that could put more upward pressure on the yuan.

The government had kept interest rates artificially low to help push through reforms at state-owned companies, Yi said.

Chinese economists and officials have been locked in heated debate on how the government should steer the economy, some suggesting the yuan should be allowed to rise faster.

Last week, Chen Dongqi, vice head of the Academy of Macroeconomic Research under the National Development and Reform Commission, urged the central bank to raise interest rates and said it could learn from moves made by the U.S. Feb.

 
 

Related Stories
 
镇宁| 颍上县| 周宁县| 吉安市| 绩溪县| 东乌珠穆沁旗| 云阳县| 平顶山市| 明溪县| 固安县| 施秉县| 新乡市| 玉田县| 泸州市| 龙井市| 大厂| 自治县| 开原市| 陇南市| 南昌市| 油尖旺区| 枝江市| 轮台县| 绵竹市| 望都县| 商丘市| 边坝县| 灌南县| 蕉岭县| 乌恰县| 林甸县| 隆安县| 循化| 图片| 仁化县| 天水市| 穆棱市| 汶上县| 双柏县| 葵青区| 锡林浩特市|