Tuesday July 7, 01:16 AM
China c.bank researcher sees no big inflation risk
SHANGHAI, July 7 (Reuters) - China faces no big inflation risk in the short term and has no need to make major monetary policy adjustments for now, the head of the Chinese central bank's research department said in remarks published on Tuesday.
China also has a strong possibility of attaining its economic growth target of 8 percent for this year as the economy has already shown signs of recovery, Zhang Jianhua was quoted by the official China Securities Journal as saying.
'At least until the global economy has entered a period of sustainable recovery, both the world and our country should see no inflation,' Zhang was quoted as saying.
'China's monetary policy is effective so far and it should continue the relatively loose stance in the short term.'
Zhang forecast China's gross domestic product (GDP) would grow 7 to 7.5 percent in the second quarter of this year, rising to 8 percent in the third quarter and 9 percent in the fourth quarter.
The country's GDP growth slowed to 6.1 percent in the first quarter of this year after falling to 9 percent last year in the wake of five consecutive years of double-digit expansion.
Separately, a report by the semi-official China Business News predicted China would report 'double deflation' in its consumer price and producer price indexes in June for the fifth straight month.
But it predicted both indices would move into positive territory in the second half of this year, quoting analysts.
China will begin to report June and second-quarter economic data late this week.
(Reporting by Lu Jianxin and Ben Blanchard; Editing by Jonathan Hopfner)
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
