Zhou Says China to Stick With `Tight’ Monetary Policy

From Bloomberg:

China will stick with a “tight” as the nation faces increasing pressures of and over-investment amid global turmoil, said chief Zhou Xiaochuan.

China needs to correctly handle the “pace, focus and magnitude of macro-economic controls to avoid large fluctuations and maintain stable and relatively fast economic growth,” Zhou, governor of People’s , said during the International Monetary Fund meeting in , according to a statement posted on the central bank’s Web site.

China, the world’s fastest-growing major economy, is trying to prevent a flood of cash from the trade surplus and investment from fanning inflation that is already at an 11-year high. The nation has accelerated the ’s appreciation this year to ease pressure on inflation.

Read also China: Major advanced economies have primary responsibility to stabilize global financial market from Xinhua.

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