【本文摘要】 The reserve ratio - the amount of money a bank must put at the central bank - will rise 0.5 percentage point to 16.5 percent on yuan deposits from May 20, the People's Bank of China said on its Website yesterday. The increase is the fourth so far this year.
CHINA yesterday raised the reserve requirement ratio to a fresh high to fight inflation which rebounded in April.
The reserve ratio - the amount of money a bank must put at the central bank - will rise 0.5 percentage point to 16.5 percent on yuan deposits from May 20, the People's Bank of China said on its Website yesterday. The increase is the fourth so far this year.
The move didn't come as a surprise as economists have expected the central bank will use quantitative measures like the reserve ratio as the main weapon to curb inflation.
The consumer price index, the main gauge of inflation, rose to 8.5 percent in April from March's 8.3 percent, the National Bureau of Statistics said yesterday.
"The rebound in inflation will mean the central bank has to do all it can to curb inflation and rein in prices,'' said SYWG Research & Consulting in a report yesterday. "However, the current uncertainty of the economy will force the central bank to be cautious with measures like interest rate increases.''
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