Inflation could lead to rate hike

时间：2007-06-25 06:12:56

（单词翻译:单击）

Beijing, June 25 - Interest rates could be raised if inflation pressure keeps building, the central bank governor has said.

 

If the consumer price index (CPI), a key gauge1 of inflation, continues to rise, "we don't exclude the possibility of raising interest rates again," Zhou Xiaochuan said on Saturday in Basel, Switzerland, where he was attending a meeting of central bankers at the Bank of International Settlements.

 

The People's Bank of China raised rates twice this year, with the latest on May 19 when the benchmark one-year deposit rate was raised 27 basis points to 3.06 percent.

 

The same month, the CPI rose the highest in more than two years - 3.4 percent year on year - as pork and food prices soared. It was the third month this year that the CPI exceeded or nudged the 3 percent mark set by the central bank for this year.

 

Song Guoqing, a senior economist2 with the China Center for Economic Research at Peking University, said the June CPI could rise as high as 4 percent due to rapid rises in food prices.

 

Many economists3 said the CPI will continue on an upward trend until September or October.

 

Zhang Yongjun, an economist with the State Information Center, said: "We forecast the CPI will peak at 4 percent around October before it starts to decline."

 

Dong Dezhi, economist with the Bank of China, said: "We have not seen signs of slow-down in CPI growth in June. It is more than possible that it will continue to rise on the back of the 3.4 percent level in May."

 

Apart from steep rises in pork and egg prices, prices of aquatic4 products and fruits have rebounded5 in June, adding to inflation pressure, Dong observed. Food accounts for about a third of the CPI basket.

 

While many worry that rising inflation would be inevitable6, Zhuang Jian, a senior economist with the Asian Development Bank, said the authorities are well equipped to control inflation following the experience in the 1990s.

 

The high CPI rates forecast in the coming months presume that there will be no government intervention7, he noted8.

 
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1 gauge 2gMxz     
v.精确计量；估计；n.标准度量；计量器
参考例句：
  • Can you gauge what her reaction is likely to be?你能揣测她的反应可能是什么吗？
  • It's difficult to gauge one's character.要判断一个人的品格是很困难的。
2 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
3 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家，经济专家( economist的名词复数 )
参考例句：
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
4 aquatic mvXzk     
adj.水生的，水栖的
参考例句：
  • Aquatic sports include swimming and rowing.水上运动包括游泳和划船。
  • We visited an aquatic city in Italy.我们在意大利访问过一个水上城市。
5 rebounded 7c3c38746f183ba5eac1521bcd358376     
弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效
参考例句：
  • The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
  • The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。
6 inevitable 5xcyq     
adj.不可避免的，必然发生的
参考例句：
  • Mary was wearing her inevitable large hat.玛丽戴着她总是戴的那顶大帽子。
  • The defeat had inevitable consequences for British policy.战败对英国政策不可避免地产生了影响。
7 intervention e5sxZ     
n.介入，干涉，干预
参考例句：
  • The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
  • Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。
8 noted 5n4zXc     
adj.著名的，知名的
参考例句：
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。

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