Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RealMuLan who wrote (16413)	11/21/2004 12:58:33 AM
From: mishedlo	Read Replies (1) of 116555

G20 MEETING Zhou says PBoC to monitor data before further monetary policy move Saturday, November 20, 2004 11:19:44 AM afxpress.com BERLIN (AFX) - People's Bank of China governor Zhou Xiaochuan said the PBoC will monitor the response of commercial banks to its recent interest rate increase to see if further policy changes are needed "We are going to observe how the commercial banks respond to the new policy and then we can see whether we need to go further to consider interest rate policy or not," Zhou told journalists ahead of today's meeting of G20 finance ministers and central bank governors "We just adjusted benchmark savings rates and lending rates and on the other hand we have agreed steps to liberalise interest rates, so I think the commercial banks can respond according to the market situation," he said The PBoC raised interest rates for the first time in nine years on Oct 28, hiking its benchmark one-year lending rate by 0.27 percentage points to 5.58 pct Zhou said the Chinese authorities will be closely monitoring economic data over the months ahead "Up to now for China the current account is basically balanced, so we don't have a very large trade surplus," he said. The US has sometimes criticised China's fixed exchange rate peg to the dollar, seeing a yuan appreciation as one possible solution to the US current account deficit Zhou said the US current account and budget deficits are just one factor in the dollar's recent slide "There are so many reasons for this -- the twin deficits and the low savings rate, but (Fed chairman) Alan Greenspan already said that," he said ================================================================ Yiwu, Given that he was at G20 meeting I would presume his view carries policy weight. Correct? Mish

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next