China Inflation To Remain Strong, PBoC Says
2011-08-12 16:41:36
China's inflation will remain elevated in the period ahead, the People's Bank of China said in its latest quarterly monetary policy report released on Friday. The central bank reiterated that its primary task will be to maintain price stability. The bank will also continue to implement "prudent" monetary policy, according to the report.
The bank said that it will make use of extra policy tools, other than the interest rates, to keep inflation in check.
In July, inflation rose to a three-year high of 6.5 percent from 6.4 percent in June. The central bank has hiked the key policy rate five times since October 2010 and raised the reserve requirement six times this year to contain inflation.