China to keep close watch on monetary policy

People's Bank of China governor Zhou Xiaochuan told a press conference that the PBOC will "keep a close watch" on the effects of monetary policy, and did not rule out the possibility of an increase in interest rates later this year.

"The People's Bank of China will not increase interest rates this month because CPI growth still does not merit a rate hike," he told a press conference on the sidelines of the National People's Congress.

"But we will keep a close watch on the effects of the curren

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