The nation’s stable monetary policy, weak relationship of domestic coal and clean energy prices with international markets, effective management of industrial and supply chains, and high food self-sufficiency rate will help in maintaining the stability of prices, as per the PBOC’s latest quarterly monetary policy report.
The report also added that the PBOC will follow a pragmatic approach regarding its monetary policy and will not opt for a ‘flood-like stimulus’.
China’s economic fundamentals are favourable enough for it to reach its average annual consumer price index (CPI) target of about 3 per cent in 2022, according to the People’s Bank of China (PBOC). The country’s CPI touched 2.7 per cent year-on-year in July 2022. However, the central bank also cautioned against possible structural inflation pressure.
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