PBoC Chief Says Developing Nations Can Target Inflation Slightly Above 2%

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Developed nations can target inflation rate of around 2%, People's Bank of China's Governor Zhou Xiaochuan reportedly said Wednesday. According to the transcript of an interview posted on state radio's website, Zhou said developing nations can target a slightly higher rate.

Chinese consumer prices in August had declined 1.2% in August compared to an annual growth of 4.8% in the same period of previous year.

Developed nations can target inflation rate of around 2%, People's Bank of China's Governor Zhou Xiaochuan reportedly said Wednesday. (Market News Provided by RTTNews)