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| China will adopt proper measures at proper time |
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| issuance time：2010-3-9 visited：91 source：
PeopleNet
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Raising the deposit-reserve ratio does not mean reducing liquidity, and China will continue to implement moderately easy monetary policies, Su Ning, a member of the national committee of the CPPCC and the vice president of the People's Bank of China, said March 4. For the issue of raising the interest rate, Su added, "China will adopt proper measures at the proper time."
In January and February 2010, the Central Bank of China raised the deposit-reserve ratio twice by 1 percentage point in total to 16.5 percent. Su pointed out that China's money supply is still in fact, quite ample.
Relevant data shows the year-on-year growth rate of the M1 sharply increased to 38.96 percent in January. Su emphasized although the People's Bank of China has raised the deposit-reserve ratio, it does not mean the money supply will be reduced, and the bank just wanted to take back the excessive part of the money supply.
Su pointed out that according to the guideline confirmed in the Central Economic Working Conference, 2009 was a difficult year but 2010 will be a complex year for China's economic development. There will be elements that can promote economic development and there will also be many uncertain elements. Therefore, China will continue to implement moderately easy monetary policies to accelerate the economic recovery.
For the issue of raising the interest rate, which the public is quite concern about, Su said that, "China will adopt proper measures at the proper time in order to achieve our goals."
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