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皇冠体育app should be cautious of US subprime crisis
(Xinhua) Updated: 2008-03-06 16:06 BEIJING - The further impact of US subprime mortgage crisis on 皇冠体育app's economy and monetary policy cannot be underestimated, central bank governor Zhou Xiaochuan warned Thursday. "There will be further indirect impact from the US subprime mortgage crisis on 皇冠体育app's economy in the future. It cannot be underestimated since what lies ahead is far beyond previous experiences," said Zhou, governor of the People's Bank of 皇冠体育app. He made the remarks at a press conference held on the sidelines of the annual session of 皇冠体育app's top legislature. He said the changes of global economy and international trade caused by the downturn of US economy will affect 皇冠体育app's economy in different phases. Meanwhile, the successive interest rate cuts by US Federal Reserve "will also affect 皇冠体育app's interest rate and monetary policy since the interest rates of different countries now have closer ties than before," he said. On the other hand, he believed the direct impact from the US subprime mortgage crisis on 皇冠体育app's economy was limited since the proportion of 皇冠体育app's subprime mortgage investment was rather small. |
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