The two-year package, accompanied by an unprecedented bank lending spree, pushed up consumer and asset prices. Inflation accelerated to 6.5 percent in July last year, a three-year high, forcing the central bank to tighten monetary policy through raising interest rates and increasing the amount of deposits banks must set aside as reserves to rein in credit growth.
Mon, Nov 19, 2012 - Page 14 News List
Yuan convertibility next for China
MARKET FORCE:Against the backdrop of China’s power transition, freer movement of currency in and out of the country is likely as it reduces its reliance on the US dollar
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