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Article: CHINA'S CENTRAL BANK UNLIKELY TO RAISE INTEREST RATES SOON.
- Article from:
- AsiaPulse News
- Article date:
- April 20, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, April 20 Asia Pulse - China's central bank has no plan to raise interest rates in the near future, according to Wu Xiaoling, vice-president of the People's Bank of China.
At a seminar held here recently on the opening up of the financial sector and reform of commercial banks, Wu said that however, if the inflation rate continunes to rise, leading to an actual negative lending rate, the central bank would consider raising lending interest rates from the current 5.3 per cent.
Since last September, China's Consumer Price Index (CPI) has increased rapidly year-on-year. In the first quarter of this year,the year-on-year CPI growth was 3.2 per cent ...