Macro-policy gradually clear noodle

Last week introduced a macro focus noodle message. July 25, the CPC Central Committee Political Bureau held a meeting to study the current economic situation and economic work. CPC Central Committee and State Council on the current economic situation in the second half of the basic view, as well as the basic principle of economic work and the main mission becomes clearer. People's Bank of China monetary policy committee in 2008 before the second quarter of the regular meeting was held in Beijing, the central bank monetary policy gradually clear thinking.

The State Council put the second half of the main objectives of macro-control update to "continue to maintain stable and rapid economic growth, control prices rose too fast, put inflation in a prominent position." "Double anti-" to "1 1 security control" shows the management of pre-think "preventing economic overheating," targeted to be completed by the psychological effects of more than expected, although the goal of anti-inflation pressure is still great, but only "the right of two evils evils. "

After many years of accumulation, the rapid growth of China's fiscal revenue. However, the long-term existence of social security, health care, education and other issues will require substantial financial investment. At the same time, this year's Wenchuan earthquake, the Olympic Games, resources, price subsidies, agricultural subsidies and other major financial expenditure needs concentrated outbreak, the Government is facing financial pressure will be very large. China's sustained and rapid economic development is also to attract industrial capital and even the world's "hot money" Choose one of the important factors in China, if China's economy showing clear signs of recession, then it is difficult for international investors in China's economic development was confident about the prospects, or even capital outflows situation. If the above conditions, our country for many years the fruits of economic development as well as the hard-won status in international politics may have been in vain. Therefore, from a strategic sense, maintaining that economic development is the inevitable choice, although the shortage of resources, environmental pollution, inflation and other problems are imminent, but riding a boat must be upheld.

People's Bank of China monetary policy committee in 2008 about the second half of the second quarter of regular monetary policy objectives and the Political Bureau meeting of the same strain, but compared to one quarter of the regular meeting, many had a "reasonable interest rates exert leverage, and steadily push forward the market-oriented interest rate reform" . If there is 1-2 times before the Olympic Games resource price reform, the central bank does not rule out the use of the possibility of hedging the interest rate policy.