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China Should Raise Rates - Central Bank Adviser

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May 12 (China Daily) - China should raise benchmark deposit rates as a defensive move to stabilise inflation expectations, a central bank adviser said in comments published on Wednesday.
More worrisome than the 2.8 percent rise in consumer prices in the year to April was the 0.2 percent month-on-month increase, said Li Daokui, an academic adviser on the central bank's monetary policy committee.
&quot;This indicates that price trends are extremely serious, requiring a high level of attention,&quot; he told the Beijing Morning Post.
Li is one of three academic advisers to the People's Bank of China, a position which gives him knowledge of official thinking but little influence over policy decisions.
A professor at Qinghua University, Li has been relatively hawkish since his appointment as an adviser earlier this year, repeatedly saying that the central bank should consider raising interest rates. 
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In his latest comments, Li said that it was important for the central bank to stabilise savers' and investors' expectations by breaking the trend towards negative real rates.
The benchmark one-year deposit rate is currently 2.25 percent.
Many analysts expect consumer prices to continue to climb in coming months and officials have said that it will be a challenge for China to keep average inflation over the full year below 5 percent. 
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China Should Raise Rates - Central Bank Adviser | Shanghai Non ferrous Metals

China Should Raise Rates - Central Bank Adviser

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