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Mid-term monetary policy considered

By Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-06 11:58

"China's current monetary policy should consider not merely the short-term purpose, but also the mid-term purpose," Zhou Xiaochuan, governor of the central bank, said at a press conference during the 2nd Session of the 11th National People's Congress on Friday.

Zhou reiterated a "moderately loose" monetary policy for this year and said to deal with the global financial crisis, the central bank must take decisive measures to keep the impact within limits before confidence is lost, even though it caused a jump in money supply in January.

"There is still space for later adjustment and overall, we will keep the money supply in a reasonable level in the mid-term," he said.