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
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