Former PBoC head urges efforts to fight deflationary pressure
Yi Gang highlights weak domestic demand and need for fiscal and monetary support
A former governor of China’s central bank said today (September 6) that the country’s policy-makers “should focus on fighting deflationary pressure”.
“Overall, we have the problem of weak domestic demand, especially on the consumption and investment sides,” Yi Gang said during a panel discussion at the Bund Summit in Shanghai. “So that needs proactive fiscal policy and accommodative monetary policy.”
Consumer prices rose 0.5% year on year in July, compared with 0.2% in June. Producer prices fell 0
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Economics Benchmarks 2024 – model banks analysis
Additional data breakdowns reveal patterns based on staffing and development
Demographics could trigger closures of US universities – study
Research by Philly Fed says fewer young people are enrolling, which is adding to financial pressures
Economics Benchmarks 2024 – executive summary
The benchmark drills into model design features as well as staffing, research and AI
Economics Benchmarks 2024 report – making models work
The benchmarks this year include more granular details on key model design features
ADB approves $500 million loan to Indonesia
Policy-based facility focuses on expanding vulnerable groups’ access to financial services
US inflation expectations tick up across all time horizons
NY Fed survey finds more respondents expect prices to rise over one- three- and five-year timeframes
China’s inflation drops to five-month low, despite stimulus
Some analysts expect PBoC to deliver further cuts in rates and RRRs by end of 2025
Fed’s latest Beige Book reports modest growth across US
Boston was only branch to report decreased activity since October