PBOC: Imported inflation is concern

China's central bank says imported inflation could impact financial markets here and stall macro-economic controls aimed at preventing the world's fastest-growing major economies from overheating.

China's central bank says imported inflation could impact financial markets here and stall macro-economic controls aimed at preventing the world's fastest-growing major economies from overheating.

The bank's 2007 China Financial Markets Development Report says consumer prices, which climbed to an 11 year high in February, could keep rising, because of the higher costs of imported goods.

The report says the rising cost of grain and other goods on the international market will increase the inflationary pressure in China.

The central bank says the likelihood that prices will keep rising exists for the foreseeable future, as a result of higher import prices and inflation expectations.

Source: CCTV.com