China Financial Daily

Central Bank: Continue to implement an appropriate policy, loose monetary policy to maintain the continuity and stability
At 18 o’clock on August 25, the PBOC announced on its website the 2008 Annual Report, summed up the central bank since 2008, implementation of financial macro-control results achieved, and in 2009 the prospects for monetary policy – reiterated that “continue to implement the moderately loose monetary policy and the State Council to promote economic development of financial policies and measures to ensure policy continuity, stability, and guide the total credit volume and credit structure optimization moderate growth, promote stable and rapid economic development. ”

In 2008, by the international financial crisis, the Bank of timely adjustments to monetary policy, its direction is divided into three phases.

The beginning, in order to prevent economic growth from relatively fast to overheated, to prevent structural price increases from evolving into evident inflation, the central bank implemented a tight monetary policy to guide financial institutions to arrange credit reasonably uniform. Entered in July, the U.S. sub-prime crisis spreads and worsens, leading to shrinkage of China’s exports, weak aggregate demand. In accordance with the central bank not only to maintain stable and rapid economic development, but also the requirements of price control and guide financial institutions to expand credit volume, optimize credit structure. In September, the international financial situation deteriorated sharply, the impact of China’s economy has obviously increased, the central bank started to take an appropriate loose monetary policy, four times a differentiated down the RMB deposit reserve ratio five times RMB loans of financial institutions lowered the benchmark interest rate four times lowered the benchmark interest rate of renminbi deposits.

Related posts:

1. The central bank injected a net funds continue to maintain loose monetary policy renewal
   The central bank injected a net funds continue to maintain loose monetary policy renewalChina’s financial...
2. The central bank’s Monetary Policy Committee: continue to implement appropriate monetary policy
   The central bank’s Monetary Policy Committee: continue to implement appropriate monetary policyThe central bank’s Monetary...
3. Central Bank Annual Report: the banking system will continue to maintain adequate liquidity and reasonable
   Central Bank Annual Report: the banking system will continue to maintain adequate liquidity and reasonablePeople...