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No plan to raise interest rate
(CRIENGLISH.com)
Updated: 2005-03-29 15:45
China's central bank governor says China will not raise interest rates.
People's Bank of China Governor Zhou Xiaochuan says China cannot follow other
developed economies and readjust interest rates at regular intervals, because of
the instability in China's markets.
He notes the People's Bank of China will keep close watch over the changes in
the China's financial situation and use the national economy and inflation as
indicators of the need to increase interest rates.
Zhou Xiaochuan says China will continue to improve its financial mechanisms
to eventually allow the market to determine interest rates.
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