Renminbi liberalisation, price stability priorities: PBoC

pboc-2011-conf

The People's Bank of China (PBoC) has set further liberalisation of the renminbi exchange rate and fomenting greater use of the currency internationally among its key goals for 2011.

However, the central bank placed "stable prices" highest on its list of priorities, saying it would aim to "improve the control of targeted, effective management of liquidity". Annual inflation leapt to 5.1% in November, the highest level at which it has been since July 2008, National Bureau of Statistics figures sh

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