Share
Copied
Yi Gang, governor of the People's Bank of China (PBOC), speaks at The Bank of Thailand (BOT) and the Bank for International Settlements (BIS) Conference via video, December 2, 2022. /PBOC
China's inflation forecast for next year is in the moderate range, its central bank head Yi Gang said on Friday in a video speech at a conference jointly held by the Bank of Thailand (BOT) and the Bank for International Settlements (BIS).
Many emerging markets and low-income countries have seen pressures of local currency depreciation, capital outflows, and inflation at the same time, he said, noting that central banks are faced with a delicate balancing act of fighting inflation and keeping the economy growing at the same time.
China's CPI stands around 2 percent now, partly thanks to grain harvest and stable energy prices, and it is expected to maintain in the moderate range in 2023, he said.
Due to the impact of COVID and other factors, China's growth rate is lower than expected, 3.9 percent in the third quarter, therefore, authorities have stepped up the implementation of accommodative monetary policy to help with economic recovery and maximize employment, he said.
Looking forward, he added, the advanced economies and the emerging economies should better collaborate on macroeconomic policies.
Search Trends
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466