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| Author: | Tao, Shigui |
| Title: | New reflections on the influence of foreign exchange reserves on inflation (original in Chinese) |
| Journal: | Economics Information (c)
1996 : 2, p.18-20 |
| Index terms: | INFLATION FOREIGN EXCHANGE STORAGE CHINA |
| Language: | chi |
| Abstract: | As a large amount of the basic currencies of the central bank are used as the matched funds for foreign currencies, great pressure is placed on inflation. The too rapid growth of foreign exchange reserves and the changes of basic currency supply structure may promote directly the price rises. So it is not at good thing that foreign exchange reserves become more and more. The excessive foreign exchange reserves may also weaken the central bank's flexibility of controlling basic currencies: At the same time, they will lead to the unbalanced distribution of the whole society's credit funds. So China should establish its unified and complete system of monetary policies and the system of targets for adjusting and controlling foreign exchange reserves. |
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