/ world today news/ China’s expectations are to achieve its target of controlling inflation within about 3% this year, as several favorable conditions exist in the country to maintain price stability in general, the latest quarterly People’s Bank of China Monetary Policy Report.
In terms of economic fundamentals, China conducts a stable monetary policy, has a high level of food self-sufficiency, maintains a low correlation of domestic coal and clean energy prices with international markets, and industrial and supply chains operate efficiently.
However, the People’s Bank of China warned of structural inflationary pressures, noting that CPI growth could exceed 3% in a few months. Official data from this Wednesday showed that its growth in April was 2.7 percent on an annual basis.
The bank’s report confirmed that it would stick to a “prudent approach to its monetary policy, avoiding ‘flood’-like stimulus.”
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