Guan Tao, chief economist of China Banking Securities Guan Tao, said at the Financial Annual Meeting on the 6th (December 17) that from the perspective of financial stability or price stability, the RMB exchange rate fluctuation so far is not domestic currency so farFollowers.
According to Shell Finance reports, Guan Tao believes that banks should maintain the flexibility of exchange rates, allowing exchange rate fluctuations to adapt to the differences in monetary policy of various countries.When it is stable, the central bank should take a shot.In layman's terms, the central banks of various countries should ignore the rise and fall of currencies. Only when the price is stable and the financial stability affects the price of prices.
Guan Tao predicts that the influence of the Fed's tightening will be further fermented. The impact on China may be based on the impact of financial markets and capital flows, interpretation as financial and superimposed trade channels.In the future, if the Fed's tightening intensity exceeds expectations, it may pierce the asset bubble, China will be difficult to be alone, and the renminbi will also face greater pressure.
However, he believes that the high probability of China's economy will stop next year, which will definitely be better than this year.The key depends on the quality of economic growth. Next year, domestic economic growth should be an employment growth, stable price growth, and high -quality growth.
For the monetary policy of next year, he believes that in conjunction with the implementation of industrial and economic policies next year, monetary policy does not rule out the innovation of new structural monetary policies, including some existing structural monetary tools, Phase extended periods.
