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China to keep inflation in check in 2010: central bank
Beijing (AFP) Jan 6, 2010 China's central bank said Wednesday it aimed to keep inflation in check in 2010 while maintaining its pro-growth monetary policy as the world's third-largest economy recovers from the financial crisis. In a statement outlining its tasks for this year, the People's Bank of China said it would adjust its policies "at appropriate times and by appropriate levels" based on economic and financial market changes in China and overseas. The central bank said it would seek to ensure "stable prices" and to "effectively manage inflation expectations" as well as keep the yuan exchange rate "basically stable", according to the statement posted on its website. The bank did not elaborate on how it would carry out its plans. The consumer price index, a key measure of inflation, rose in November after an almost year-long bout of deflation, stoking expectations that Beijing could start tightening monetary policy in the coming months. Central bank governor Zhou Xiaochuan said last week that 2010 would be a key year in the nation's battle to overcome the global crisis, and he pledged a relaxed credit policy to boost economic recovery. "To handle financial macro-economic adjustments well will be of great importance in effectively warding off the attacks of the global financial crisis and solidifying the basis of economic recovery," Zhou said.
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