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Central Bank: The Primary Task of Macro Economic Control Contnues to Be Stabilizing Commodity Prices

On August 12, People’s Bank of China released its “2011 Second Quarter Report on the Implementation of China’s Monetary Policy,” which emphasized that China’s monetary policy in the second half of 2011 remains unchanged. Stabilizing commodity prices will continue to be the top priority of its macro-economic control measures. The report also stated that the Central Bank will increase the flexibility of its policy to make it more targeted and predictable so that it will help to balance the relationship between maintaining economic growth, adjusting the economic structure, and managing inflation expectation.

Source: China News Service, August 12, 2011