BEIJING, Feb. 5 (Xinhua) -- China's monetary policy is expected to be more prudent and neutral, to rein in asset bubbles and guard against financial risks, economists have said.
The central bank, the People's Bank of China (PBOC), Friday raised the interest rate for seven-day repurchase agreements, a key tool used to adjust monetary policy, and for longer 14 and 28-day repo rates.
In January, the PBOC also raised rates on its medium-term loan facility for the first time since it debuted the facility in 2017.
China has kept prudent monetary policy since 2011. However, in practice the policy has been slightly loosening for a period of time due to downward pressure on economic growth, according to Zhang Xiaohui, assistant governor of the PBOC.
Top policy makers said at the annual Central Economic Work Conference in December that China would maintain a "prudent and neutral" monetary policy in 2017.
In an article published Friday in China Finance, a PBOC-run financial magazine, Zhang described the monetary policy for 2017 as "more neutral" and "more prudent."
"China should keep its monetary policy prudent and stable, appropriately expand aggregate demand to avoid an overly-rapid economic slowdown and at the same time refrain from excessive money supply to prevent bubbles," she said.
"The relatively easy monetary policy environment created by cuts to benchmark interest rates and reserve requirement ratios since late 2017 has changed," said Lian Ping, chief economist at the Bank of Communications.
【国内英语资讯:Economic Watch: Chinas monetary policy to be more prudent, neutral】相关文章:
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