There are no signs of easing in current tightening measures, and a further rate hike is likely to be seen in the second quarter this year, along with a probable deposit rate adjustment in March, said Lu Zhengwei.
Global oil prices continue soaring amid mounting Liberian unrest on February 23, with prices in New York market topped $100 a barrel, the highest in 28 months.
China’s central bank has applied differentiated reserve requirements on more than 40 regional banks since the start of this year.
China Banking Regulator is working on a guideline of a new prudential supervision framework over commercial banks using regulatory tools.
All kinds of policy instruments, including the deposit reserve ratio, are needed to damp inflation in China,says chinese centrla bank chief Zhou Xiaochuan.
“We have not found evidence of any large-scale capital inflows coordinated by any established financial institution,” SAFE said.
Exports soared 37.7 percent to 150.7 billion U.S. dollars while import grew 53.5 percent, bring the surplus down 53.5 percent to 6.45 billion dollars.
China has reduced its holdings of U.S. Treasury securities by 3.2 billion U.S. dollars for 2010, with the biggest cut of 4 billion in December.
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