Home breadcru News breadcru Results/Reports breadcru China's economic conditions stable enough for price stability: PBOC

China's economic conditions stable enough for price stability: PBOC

12 Aug '22
1 min read
Pic: 123rf.com/ rhj2017
Pic: 123rf.com/ rhj2017

China’s economic fundamentals are favourable enough for it to reach its average annual consumer price index (CPI) target of about 3 per cent in 2022, according to the People’s Bank of China (PBOC). The country’s CPI touched 2.7 per cent year-on-year in July 2022. However, the central bank also cautioned against possible structural inflation pressure.

The nation’s stable monetary policy, weak relationship of domestic coal and clean energy prices with international markets, effective management of industrial and supply chains, and high food self-sufficiency rate will help in maintaining the stability of prices, as per the PBOC’s latest quarterly monetary policy report.

The report also added that the PBOC will follow a pragmatic approach regarding its monetary policy and will not opt for a ‘flood-like stimulus’.

ALCHEMPro News Desk (NB)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!