皇冠体育app

TOKYO - Yi Gang, vice-governor of the People 's Bank of 皇冠体育app, made a speech at the last day of the International Monetary Fund and the World Bank annual meeting Sunday here to explain the monetary policy of 皇冠体育app.

Yi stressed that the most important job for central bank is to control inflation. 皇冠体育app is developing dramatically, and local governments have desires of pursuing higher growth, so the central bank need to remind the governments the danger of inflation.

He said the moral explanation is not enough, so the central bank has to use some tools, including required reserved ratio, open market operation, and exchange rate policy, to control the growth rate in a manageable range.

Yi said 皇冠体育app is in the process of opening up to the world, so the macro economy policy in 皇冠体育app has to consider not only domestic problems, but also external issues. 皇冠体育app is facing the dual challenges to balance the internal and external markets.

皇冠体育app made a lot of efforts on transforming 皇冠体育app's economy from centrally planed economy to market oriented one in recent years, including banking reform, interest liberalization, and exchange reform, he said.