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皇冠体育app's need to raise interest rates less pressing, PBOC adviser Li says

(Agencies)
Updated: 2010-06-26 13:58
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The need for 皇冠体育app to raise interest rates is less pressing now that inflation expectations are easing, Li Daokui, an adviser to the People's Bank of 皇冠体育app, said in Shanghai.

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"The goal of raising interest rates is to manage inflation expectations,"he told reporters at a conference. "If inflation expectations are easing, even though inflation is rising by more than 3 percent, there is no basis for a rate increase."

Li said inflation expectations are not as strong as they were a couple of months ago before the Chinese stock markets declined. "This should be a new factor to be taken into consideration"in any decision to raise interest rates, he said.