Prices force China to stick with policy stance

A top Chinese central banker confirmed that the People's Bank's monetary policy stance will remain tight after inflation hit a fresh 11-year high.

Yi Gang, an assistant governor at the central bank, said on Sunday 24 February that policy would remain rigid in spite of the likely impact of the subprime crisis on growth and the snow storms that have plagued parts of the country this winter.

``The central bank will stick with a tightened monetary policy this year despite uncertain factors domesti

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