China will adjust its interest rate at the appropriate time if the Chinese economy continues to slide in the future, a central bank official told China Securities Journal.
The current interest rate is at the right level, but there is policy space for further interest rate adjustments, said Jiao Jinpu, deputy director of the Research Bureau at the People's Bank of China (PBOC).
"If China's economy has really started to recover, the current interest rate is OK," Jiao said, adding that if major indicators show signs of worsening economic trends, interest rate cuts are a possible option since they will serve to stimulate investment and boost consumption.
For more details, please read the full Chinese coverage at:
http://paper.cs.com.cn/html/2009-04/23/content_21560664.htm
(China.org.cn April 24, 2009)
