Tag Archives: central bank
The International Monetary Fund on Tuesday raised its growth forecast for the Chinese economy and global economy in the coming two years.
China’s consumer prices beat market expectations in January to hit a three-year high thanks to pickup in consumption and travel activities during the Spring Festival season, but analysts said inflation may ease in February and not become a major concern this year.
Fighting trade protectionism, anti-globalization and boosting confidence in the Chinese economy will be high on President Xi Jinping’s agenda as he becomes the first top Chinese leader to attend the World Economic Forum next week.
Short sellers may find it more difficult to score profits from betting on a continued depreciation of the yuan, according to economists, who said measures rolled out by the central bank to stabilize market expectations have begun to take effect.
The central parity rate of the yuan against the US dollar strengthened on Monday after Yi Gang, vice-governor of the central bank, said on Sunday that the currency remained strong and stable in the global monetary system.
A strong dollar and external uncertainties are creating pressure for short-term depreciation of the yuan, but economic fundamentals will help stabilize the exchange rate in the long run, the spokesman for the National Bureau of Statistics said on Wednesday.