Arab Today, arab today chinas monetary policy still quite prudent
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Central bank governor Zhou Xiaochuan:

China's monetary policy still quite prudent

Arab Today, arab today

Arab Today, arab today China's monetary policy still quite prudent

Central bank governor Zhou Xiaochuan
Beijing - Arab Today

China's monetary policy is still "quite prudent" in spite of recent cuts of the reserve requirement ratio (RRR) and benchmark interest rates for banks, central bank governor Zhou Xiaochuan said Sunday.
The wave of RRR and rate cuts beginning in November last year have prompted speculation that China's monetary policy has turned from "prudent" to "loose" as downward pressure on growth continues.
"Judging from the speed of credit expansion and aggregate credit supply expansion, China's monetary policy is still quite prudent," Zhou said at the ongoing China Development Forum.
A prudent monetary policy in the context of a "new normal" economy should be both supportive of economic growth and promoting structural reforms, he added.
Source: XINHUA

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