‘No need’ for change in prudent monetary policy

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March 13, 2015

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‘No need’ for change in prudent monetary policy

Source: Agencies | March 13, 2015, Friday |

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CHINA has no need to change its prudent monetary policy stance, central bank governor Zhou Xiaochuan said yesterday, after a raft of data suggested the world’s second-largest economy has lost further momentum.

“The new normal condition is not special. There are problems, (but) this does not necessarily require a new monetary policy formula,” Zhou told reporters in Beijing.

Money supply growth is appropriate, while policy adjustments have kept liquidity levels at appropriate levels, Zhou said.

Data released so far for early 2015 show the economy may be at risk of missing the government’s newly minted growth target of around 7 percent for this year, which itself would mark a 25-year low.

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‘No need’ for change in prudent monetary policy

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