China Has Leeway to Adjust Monetary Policy: Senior Official

From AFP:

A top Chinese official said China has room to further adjust its because its interest rates remain higher than those in the and , in remarks published Monday.

“Currently, China has ample room to carry out its monetary policy,” Yi Gang, a deputy governor of the central bank, said in an article co-written with a university economist and published in the state-controlled magazine Caijing.

On December 22, the ’s Bank of China announced its fifth cut since September, amid growing signs that the financial crisis was hurting the economy.

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