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| Tuesday, 22 February 2011, 14:45 HKT/SGT | |
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Source: Himfr.com | |
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BEIJING, Feb 22, 2011 - (ACN Newswire) - Himfr.com's (http://www.himfr.com/hot-products/) latest report shows that the People's Bank of China announced a rise in the bank reserve requirement ratio of 50 basis points from Feb. 24.
Himfr.com reports that China's consumer price index, a main gauge of inflation, increased 4.9% in January, up from 4.6% in December.
The analyst of Himfr.com said that on Jan. 30 that keeping overall price levels under control by adopting a prudent monetary policy would be its top priority this year. And more importantly, the increase aims to control credit growth in the first quarter.
The analyst from Himfr.com said that China usually sees lending sprees every first quarter, as banks tend to give more loans at the start of the year to secure profits. Frantic lending in the first quarter last year for the full-year amount exceeding the government's ceiling of 1.14 trillion U.S. dollars.
Himfr.com points out that China's banks extended 0.16 trillion U.S. dollars in new loans in January. The central bank may get tougher this year to prevent lending rush in the first quarter.
Contact:
http://www.himfr.com/
Tel: +86-10-65569770
Email: my@himfr.com
Topic: Research / Industry Report
Source: Himfr.com
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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