China shifts stance as inflation falls

The People's Bank of China has moved from a tightening to a neutral monetary-policy stance on the back of a drop in inflation in recent months.

The central bank said on Friday that it would place inflation and growth on an equal par for the rest of 2008. The institution said it would aim for stable and consistent monetary policy, though it could make incremental policy changes. Analysts now believe the central bank is unlikely to hike rates or the reserve ratio before 2009.

It has held a tigh

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