Zhou Xiaochuan: Continued moderately easy monetary policy

The central bank has been stressing the importance of maintaining moderately loose monetary policy and increasing the sustainability of loan growth, and it is estimated that there will be no surprises in the four quarter if the total number of new loans in the first quarter of next year is between 2.5 trillion and 3 trillion yuan, it should be reasonable level. The governor of the People's Bank　　The future will maintain the continuity and stability of macroeconomic policy, and continue to implement moderately loose monetary policy. On the same day, the central bank issued a 2009-year three-quarter macroeconomic analysis report, the central bank said in the report, because the earlier projects have been started still need a large amount of credit funds to maintain, coupled with the rise in real estate investment, loan demand will remain stable.　　To curb overcapacity in some industries, to guide financial institutions to optimize the structure of credit, to enhance the sustainability of loan growth. "The central bank's report is optimistic about the outlook for the economy, and the central bank has been stressing the importance of maintaining moderately loose monetary policy, and it is estimated that there will be no surprises in the four quarter," he said.　　Zhang, senior economist at China National Information Center, said.　　The central bank also predicts that future long-term loans will continue to increase significantly, Bill financing will continue to decline, SME loans and "three rural" loans will further increase.　　Gao Yi, an analyst at Orient Securities, said that if the total number of new loans in the first quarter of next year is between 2.5 trillion ~ 3 trillion yuan, it should be reasonable. Inflation expectations continue to increase the central bank said in its report that the two quarter was the bottom of the downward trend in the consumer price index (CPI).　　The third quarter became the bottom of the downward trend of industrial products ex-factory (PPI).　　According to the report, the CPI-consistent composite index measured by the People's Bank is still in a downward phase from the price-sentiment index, but the decline is slowing and showing signs of bottoming; from the synthetic index, future CPI prices will start to rebound after the end of the year.　　The central bank's three-quarter depositor survey showed that in the quarter the forecast index for future prices reached 66.7%, has risen for the third consecutive quarter, and residents ' inflation expectations have continued to increase.　　The central bank said it should pay close attention to economic restructuring and manage inflation expectations. Gao Yi said, "although the inflation inflection point has emerged, but it is still difficult to say how much the increase." Next year is expected to be a moderate price level. Penson, deputy director of the National Development and Reform Commission, said earlier that China's CPI would not rise more than 5% next year and that next year the economy would continue to maintain a sound development posture without hyperinflation.