[] financial network Zhuangao reporter Wei Fengling central bank yesterday released in August 2nd two quarter monetary policy report, for the first time on M1, M2 growth rate of price scissors expanding giving official explanation, called the main economic activity slows down, financial product stream business demand deposits and other factors.
Then in June M1 rise situation,supra shoes, future M1 and M2 can quickly narrow the difference?
According to the central bank statistics calibre, M1 includes cash in circulation and bank deposits, and M2 by M1 plus the savings deposits of urban and rural residents, deposit and other deposits.
Since the second half of last year, M1 growth rate unceasingly downward, and twice to 3.1% this historical lowest level, while M1 and M2 difference will expand to 8 to 9 percentage points.In fact, M1 and M2 difference go wide, in the last round of financial crisis has occurred.
2008 August to 2009 January,jordan pas cher, M1 growth remain in the single digits, the minimum to 6.68%, while the M2 did not appear obvious drop.In 2007 M1 cardinal number is high,burberry, low 2008 growth.In addition, when regular deposits of situation is obvious, as of the end of 2008, regular savings deposits and time deposits of enterprises respectively,abercrombie, up by 3.
3 yuan and 722600000000 yuan.
At present the enterprise demand deposits to finance product stream, a show business cash is in short supply, on the other hand also illustrate the entity economy investment return rate is too low.
The central bank also admits,air jordan, M1 growth rate is low and slow economic growth in hasten is firm, the production and operation of enterprises in a relatively stable period of.
Comparison of the two rounds of M1 and M2 growth rate difference to expand, can be found in the central bank rate cut cycle.
In 2008, the central bank through 4 months of the 4 total of 190 basis point cut in interest rates, lower borrowing costs, plus 4 trillion investment gradually implemented, the M1 growth quickly back to 10%.
But at present, the real estate regulation wavering political pressure,louboutin pas cher, the central bank cut interest rates two times on the monetary policy easing has begun cautiously.In this report,louboutin, the central bank even emphasized,www.mercurialevapore2012.com, in August year-on-year CPI may pick up.
A monetary policy research sources, the current monetary policy is still on inflation.Therefore,burberry, the future or only can see monetary policy moderate relaxed.On the other hand, the last round of the "$4" was widely criticized, make the government on economic policy to stimulate the scruples.
The massive investment in enterprise income grows quickly improved profitability is difficult to reproduce, and exports have been weak, so the economic activity of the enterprise is very difficult to pick up.
Furthermore, the bond market is in a period of rapid development,burberry soldes, the enterprise is no longer dependent on bank financing.From the loan create deposit mechanism, credit demand and the rise of bad assets, or will cause the bank balance sheet shrink,abercrombie and fitch, inhibition of growth in deposits.
According to a source of state-owned banks, for reducing the cost of capital account, bank is strongly compressed financial products.But the bank deposit than less stressful,supra, and joint-stock banks and city firms have enormous pressure, thus compressing the financial products is not easy.
Therefore, although the central bank has cut interest rates two times, but it is expected that M1 and M2 of the price scissors, be in hard short-term inside narrowed.
(stock market weekly Syndication)
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The country is facing economic pressure but the government is confident and able to meet this year's annual economic target, he said, citing ample fiscal policy space, huge potential in domestic demand, hopeful economic restructuring and a stable political and social environment. |