China stands firm on monetary policy

The People's Bank of China said on Monday 31 March, after its first quarter monetary policy committee meeting, that it would maintain its firm attitude to monetary policy, using instruments "in a measured manner".

The policy statement highlights the various conflicting pressures on the central bank as it struggles to keep prices down while simultaneously encouraging strong economic growth.

The focus this year, the central bank said, was on the prevention of "overly rapid rises" in prices, adding

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