The President of the People's Bank of China Yi Gang predicts that China's inflation next year will remain in a mild range.
According to the Shanghai Securities Journal, Yi Gang made the above in the speech at the "Central Bank of the Global Change" jointly sponsored by the Central Bank of Thailand and the International Clearance Bank on Friday (December 2).Explanation.
Yi Gang mentioned that, thanks to the harvest of food and the stability of energy prices, China's current inflation rate is about 2%.He also said that the price of natural gas and oil in China is basically the same as the international level. The price of coal has remained stable, and the vigorous development of renewable clean energy has played an important role in maintaining China's electricity prices.
Yi Gang said that due to factors such as crown disease, China's economic growth rate was lower than expected, and GDP increased by 3.9%year -on -year in the third quarter.He said that in order to stabilize growth and employment, the People's Bank of China promptly increased its stable monetary policy implementation.In terms of total, the People's Bank of China has recently declined by 25 basis points to guide market interest rates to decline.At the same time, structural monetary policy tools are also used to continue to strengthen support for "agriculture, farmers", small and micro enterprises, private enterprises, and green development.
Yi Gang pointed out that although the pressure of inflation was temporary one or two years ago, since this year, in order to cope with high inflation, most developed economies have tightened monetary policy and many central banks haveThe rate hike speed is significantly faster than the previous austerity cycle.
Yi Gang also said that many emerging market economies and low -income countries are at the same time facing pressure on the depreciation of the local currency, capital outflow and inflation.At the same time, data such as housing mortgage interest rates and purchasing manager indexes in many countries show that the possibility of economic slowdown or decline next year is rising, and central banks of various countries need to grasp the balance between suppressing inflation and maintaining growth.
