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Submitted by Anonymous on
"The PBC governor noted earlier this week that monetary policy may need to respond to last weeks fuel price increase to ensure that inflation pressures remain contained." That is the stupidest thing I have heard for a while. Higher energy prices is equivalent to higher interest rate. It is a tax on consumers and it is more effective than higher interest rate. Higher fuel prices are not caused by too much money in China. They should try to appreciate the Yuan faster rather than increasing interest rate. Looks like Chinese central bankers are no better than Greenspan or Ben.