|
|
Article: Central bank has no plan to raise interest rates in near future
- Article from:
- Xinhua News Agency
- Article date:
- April 20, 2004
CopyrightCopyright 2004 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
|
Central bank has no plan to raise interest rates in near future
BEIJING, April 20 (Xinhua) -- 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 keeps on going up, leading to an actual negative
lending rate, the central bank would consider raising lending
interest rates from the current 5.3 percent.
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 ...