more flexible

Money supply growth of low preset tuning at more flexible
The central bank announced the 14 data display, as of the end of 11, the broad money ( M2 ) grow 12.7% compared to the same period, the narrow money ( M1 ) grow 7.8% compared to the same period, money supply growth rate fall again to several years of low.Plate Heat Exchanger

Analysts expect, monetary policy" preset tuning" will become more flexible, the end of this year to next reserve ratio will have cuts, open market operations more flexible.

Data display, as of the end of 11, the M2 balance of 82.55 yuan, an increase of 12.7%, 0.2 percentage point over the low end; the narrow money ( M1 ) balance of 28.14 yuan, an increase of 7.8%, 0.6 percentage point over the low end; currency in circulation ( M0 ) balance of 4.73 yuan, grow 12% compared to the same period.
Cause M2 year-on-year growth for 5 consecutive months of decline for a number of reasons. The gold chief economist Peng Wensheng thinks, partly because the November total RMB deposit an additional 262600000000 yuan less, increasing from 13.6% the previous month dropped further to 13.1%. On the other hand, is expected in November of new foreign exchange reserves is not worth 100000000000 yuan, far below the average for the last 5 years 275000000000 yuan of growth. But fiscal November 376300000000 yuan deposits, at the end of the year fiscal deposits began to appear in line with the laws of history on, effectively alleviate the M2 continue to trend.plate heat exchanger manufacturer

At the same time, the November M1 year-on-year growth of 7.8%, a record in 2009 the lowest level since January. Peng Wensheng says, because M1 is the main component of business demand deposits, and the industrial added value growth trend in certain relevance, M1 growth continues to decline reflects the enterprise funds tight situation continues, it is also associated with the November PMI index decreased substantially consistent.

In accordance with the central economic work conference of the tune, and the central bank 14 days " in accordance with the total modest, prudent and flexible, directional support requirements, the use of various monetary policy tools, regulate the monetary credit, maintain social financing scale reasonable growth " position, the market is expected to more flexible, preset tuning.

The gold center analysis, taking into account the early credit demand pressure, during the Spring Festival and the increase of foreign exchange cash demand growth nots allow hopeful, the end of this year and next, reserve rate may be lowered again 2-4 times, each time 0.5 percentage points. At the same time, the future of open market operations will continue as the main policy tools and flexible use, maintains the market fluidity is reasonable.

Peng Wensheng also predicted, the next may lower the deposit reserve ratio time is in January next year. ANZ Bank China Economic Research Director Liu Ligang expected, until the first half of next year, the central bank still have 3-4 cut the deposit reserve rate of space.
by fashiongirl | 2011-12-15 12:02

All time is no time when it is past.

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