SHANGHAI (Reuters) -China’s central bank governor Yi Gang said he expects the country’s annual average inflation to be below 2% this year, while cautioning against both inflationary and deflationary pressure amid economic and macro policy uncertainty.
FILE PHOTO: The Chinese national flag flies at half-mast at the headquarters of the People's Bank of China, the central bank (PBOC), as China holds a national mourning for those who died of the coronavirus disease (COVID-19), on the Qingming tomb-sweeping festival in Beijing, China April 4, 2020.
Consumer prices in China are trending higher this year, and the annual average inflation is expected to be below 2%, Yi said.
China will also actively use structural monetary policy tools to support the economy’s green transformation, Yi said.
The central bank will keep the yuan exchange rate basically stable, while improving China’s exchange rate mechanism, Yi said, reaffirming the current stance.
Yi Gang, Carlos Garcia Rawlins, Yi, ” Yi, China’s
People's Bank of China, REUTERS
SHANGHAI, China, Beijing, Shanghai