Yuan rises help ease China's inflation: Analysts

来源：百度文库 编辑：神马文学网 时间：2024/04/28 20:02:24

Yuan rises help ease China's inflation: Analysts

10:48, September 14, 2010      

Email | Print | Subscribe | Comments | Forum 

Increases the bookmark twitter facebook digg Google Windowslive Delicious buzz friendfeed Linkedin diigo reddit stumbleupon

In a concerted measure to rein in rising inflation, the policy-makers in China have allowed substantive currency appreciations since the beginning of September, market analysts say.

Following a marked gain in the value of the yuan, or RMB, on Monday, the People's Bank of China, the central bank, set the official medium reference rate of its currency at 6.7378 per U.S. dollar on Tuesday, rising 131 basic points, the highest rate since July 2005 when China abolished the system of pegging the yuan to the greenback.

Consumer inflation in China rose at the fastest pace in nearly two years in August, when the National Bureau of Statistics said the nation's consumer price index rose 3.5 percent year-on-year, higher than the 3.0 percent annual target set by Beijing.

Chinese economists have suggested the central bank raise the value of its currency in a bid to blunt imported inflation. China's imports from other countries and regions in August rose unexpectedly by 45.5 percent year-on-year, the bureau reported.

Experts believe the recent streak of the yuan gains is expected as it helps the government combat domestic inflationary pressure. Analysts however have thrown cold water on the chances of an imminent interest rate hike by the central bank, saying the recent spike in consumer prices would be temporary and China's inflation will ease by year-end.

By People's Daily Online

  • Yuan hits record high against US dollar

  • Experts say China's full-year inflation target still attainable

  • China's yuan strengthens against U.S. dollar Monday

  • China's yuan strengthens 30 basis points against USD

  • China's yuan strengthens 123 basis points against USD

  • US not to investigate yuan 'manipulation'

  • Cross-border yuan transactions as close to possible as ever

  • Indonesia inflation in August reaches 16-month high

  • Players in Hong Kong exchange told to prep for yuan products

  • Yen pushes 5-year high against yuan

  • Most Popular

    • Official: Global economic center shifting to emerging economies

    • IMF advisor: Global financial risk greatly reduced

    • Ministry official: This round of real estate regulation not over

    • Concrete emissions trade legislation urged

    • IMF's Special Adviser calls for global governance

    Hot Forum Dicussion

    • Spotlights of Peace Mission-2010 anti-terro exercises

    • Will Japan restrain aggressiveness over Diaoyu Islands?

    • Is China secretly exploring water border?

    • Pros and Cons for "Cannon Ren"

    • The two faces of modern America

    • Is it possible to decode dream?

    • Debate: Death penalty

    •  

    • Yuan rises help ease China's inflation: Analysts Analysts: Inclusive growth key to China's future development Analysts: Inclusive growth key to China's future development China's October CPI growth rises to 25-month high Experts say China's full-year inflation target still attainable China: U.S. bill on yuan would hurt both coun... China rebuffs pressure on yuan China seeks talks to ease Korean tensions As China rises, its people grow arrogant 中国经济数据靠谱吗？ Inflation in China China raises rates to curb rising inflation China putting a brake on inflation Can China Win its Anti-Inflation Battle? China putting a brake on inflation China to readjust holidays to ease tourism bu... Central China dams release water to ease drought Quake Toll Rises; China Struggles to Reach Victims Quake Toll Rises; China Struggles to Reach Victims Death toll rises to 12 in SW China landslide 中国动用加息重武器 China rolls out inflation big guns yuan yuan yuan Will Obama's "backyard chats" help Democrats?