China's central bank said on Saturday it will maintain prudent monetary pol...
BEIJING - China’s central bank said on Saturday it will maintain prudent monetary policy to prevent inflation from spreading.
In its third quarter monetary policy report, the People’s Bank of China also said it was studying plans to switch the benchmark rate for existing loans to the new loan prime rate . At the same time, China’s consumer inflation has quickened to a near eight-year high of 3.8%, driven in part by soaring pork prices as a result of an outbreak of African Swine Fever in the country, posing a dilemma for the central bank.
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