People's Bank of China Research Bureau: "double flat" economy "address both symptoms and root causes to thoroughly" move
24th, the 0.25% of the people's Bank of China cut the benchmark lending and deposit rates, lowering the deposit reserve rate 0.5% and release the deposit interest rate ceilings. Central Bank Research Bureau Lu Lei said 24th cut counter cyclical adjustment is mainly directed against the current economic operation, focusing on symptoms and "General + directed" guidelines for cycle reduction and structural factors, specimen taking into account.
according to NBS data, 2015 6.9% years ago, China's GDP grew in the third quarter, consumer prices rose 1.4%, industrial producers ' input prices fell 5.9%.
"the data show that economic growth has steadily reduced, consumer price index and producer price index continued divergence, indicating that there is business pressures, external demand uncertain, these need to be monetary policy from the angle of counter-cyclical proper implementation and fine-tuning, neutral moderate monetary and financial environment for the steady growth. "Lu Lei said.
according to Lei Lu describes, from the perspective of monetary regulation, and economic growth, price trends, employment and balance of payments are decisive factors in the direction of macro-regulation, and tool use. From the perspective of financial support for the real economy, Central Bank liquidity and interest rates in the financial sector consolidation policy effects, continue to implement "double drop" policy the main driving force.
data released by the Central Bank showed that in late September 2015, outstanding broad money (M2) totaled 135.98 trillion yuan, an increase of 13.1%; in outstanding loans 92.13 trillion yuan, an increase of 15.4%.
"on the one hand, monetary and credit remained higher than the GDP growth rate and CPI growth rate 4% higher growth levels, reflecting the effective support of the financial sector to economic, liquidity is plentiful; but on the other hand, it must be noted, decline in foreign currency reserves on central banks inject liquidity through foreign exchange pressure channels. "Lu Lei said the time cut down helps to further consolidate and enhance the capacity of financial service entities, and reduce corporate financing costs.