logo
  Join        Login             Stock Quote

China may hike interest rate in Q1, central bank advisor

Tuesday, January 18, 2011 4:13 AM


BEIJING, Jan. 18, 2011 (Xinhua News Agency) -- There is possibility for China's central bank to further hike interest rate in the first quarter of this year as the country's policy focus has shifted from maintaining a fast economic growth to taming inflation, Li Daokui, a member of the Monetary Policy Committee of China's central bank, said on Tuesday.

It is reasonable to see an intensive adjustment of the monetary policy in the first quarter, Li added, without any elaboration.

He predicts China's GDP growth and CPI rise in 2011 at 9.5 percent and 3.5 percent, respectively.

But such a GDP growth is still pretty rapid for China, said the advisor to the central bank, adding 8.5 to 9 percent should be a proper rate.

Li also noted what he worries most is the imported inflation pressure brought from the rise of global resources and energy prices. In his view, the world oil price may rise to 100 or even 120 US dollars per barrel sometime this year.

China's central bank raised the benchmark deposit and loan interest rates on December 26, 2010, with that for one-year time deposits to 2.75 percent.

The country's year-on-year CPI rise, a main gauge of inflation, meanwhile, was as high as 5.1 percent in November and 3.2 percent in the January-November period. (Edited by Wang Shicong)

(Source: )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.