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Central bank gets ready to boost liquidity

(chinadaily.com.cn)
Updated: 2008-11-18 10:30

The central bank vowed yesterday to provide ample liquidity to financial institutions if necessary to ensure stable economic growth, but warned that an injection of liquidity may lead to high inflation in the future.

The authorities would "ensure the financial system has sufficient liquidity and provide liquidity support for financial institutions in a timely manner", the People's Bank of China said yesterday in its monetary policy report for the third quarter.

China's annual economic growth slowed to 9 percent in the third quarter, down from 11.9 percent last year, due to reduced demand from the sagging world economy. The nation has launched a 4 trillion yuan stimulus package to prevent it from sliding further down.

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The full text is available in the November Issue of China Banking.