Slowdown in the world economy the central bank may ease monetary policy tightening efforts
estimates show that in January, through the open market net delivery channels such as foreign exchange to the market release of the funds may be more than 700 billion yuan, a new high in recent years. Analysts said that apart from the impact of issuing new shares, the next week is the Spring Festival, which is the central bank efforts to ease the main reason for return, and in facing the slowdown in world economic growth of the background, the number of contraction intensity may make the appropriate adjustments.
1 month, the open market due funds reached 1.834 trillion yuan accumulated, of which nearly 70% are buy-back, the central bank through open market operations and reserve requirement ratio increases, respectively, and 1.251 trillion yuan from circulation 190 billion yuan , the central bank injected a net 393 billion yuan aspects; and as a result of the trade surplus should not be a sudden and drastic decline, and in December last year, a net decrease of foreign exchange may be due to financial foreign exchange caused by the industry estimates the foreign exchange will continue in January will be 3,000 billion yuan; the day before yesterday there are 30 billion yuan treasury cash tender转存到through small and medium-sized banks, so in January the release of the funds will reach 7000 billion yuan.
analysts said that apart from the impact of issuing new shares, the central bank to relax efforts to return the main reason for taking into account the financial institutions prepared to pay during the Spring Festival of pressure. The year before the Spring Festival for the January 29, the month the release of funds (according to the above statistics) reached 556.9 billion yuan last year, the Spring Festival for February 18, the month the release of funds to 527.9 billion yuan, while the Spring Festival this year to early February, so the central bank recent efforts to relax the currency.
Of particular concern is the recent heavy snow caused part of the domestic plant production, crop damage, the Federal Reserve cut interest rates again show that the debt crisis at the negative impact of more than previously imagined, and the International Monetary Fund recently estimated that the global economy this year expected growth rate of 4.9 percent from last year’s drop to 4.1%. Central recently pointed out, it is necessary to correctly grasp the trend of world economy and its impact on China, a full understanding of external economic complexity and variability, scientific grasp the macro-control of tempo and intensity. Analysts said that in such circumstances, the need to understand the tight monetary policy, from the number of control point of view, the future strength of capital returns will be possible to make appropriate adjustments.
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Chinese version:世界经济减速 央行可能放松货币政策紧缩力度
估算显示,1月份,通过公开市场净投放、外汇占款等渠道向市场释放的资金量可能会超过7000亿元,为近年来的新高。分析人士表示,除了新股发行的冲击外,下周就是春节,这是央行放松回笼力度的主要原因,而在世界经济增长面临减速的背景下,数量收缩的力度可能会做适当调整。
1月份,公开市场到期资金累计达到了18340亿元,其中近70%为正回购,央行通过公开市场操作和准备金率上调分别回笼12510亿元和1900亿元,央行方面净投放3930亿元;而由于贸易顺差应该不会突然大幅下降,且去年12月份的外汇占款净减少可能是由于财政购汇引发的,业内人士估计1月份的外汇占款仍将会达到3000亿元左右;前日还有300亿元国库现金通过招标转存到中小银行,因此1月份的资金释放量将会达到7000亿元以上。
分析人士表示,除了新股发行的冲击外,央行放松回笼力度的主要原因是考虑到金融机构春节期间的备付压力较大。前年春节为1月29日,当月资金释放量(按上述统计口径)达到了5569亿元,去年春节为2月18日,当月资金释放量为5279亿元,而今年春节为2月初,所以央行近期放松了回笼力度。
尤其值得关注的是,近期国内暴雪造成部分工厂停产、农作物受损,美联储再次降息表明次债危机的负面影响超过了先前的想象,而国际货币基金组织最近预计,今年全球经济预期增长率将从去年的4.9%下降至4.1%。中央最近指出,要正确把握世界经济走势及其对我国的影响,充分认识外部经济的复杂性和多变性,科学把握宏观调控的节奏和力度。分析人士表示,在这种情况下,需要重新认识从紧货币政策,从数量调控的角度来看,未来资金回笼的力度将有可能作适当调整。
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2008-02-04
标签: bank, billion, central, yuan