China Has Leeway to Adjust Monetary Policy: Senior Official

From AFP:

A top Chinese central bank official said China has room to further adjust its monetary policy because its interest rates remain higher than those in the United States and Japan, 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 People’s Bank of China announced its fifth interest rate cut since September, amid growing signs that the financial crisis was hurting the economy.

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