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PBOC Pledges to Stimulate Consumer Prices Amid Deflation Fears
China vowed to step up existing monetary policy and stimulate consumer prices, which last month continued their slide, falling at the steepest pace in three years. The People’s Bank of China vowed to implement a prudent monetary policy in targeted and effective manner and reaffirmed its pledge to push consumer prices higher, according to a PBOC statement Thursday. The bank concluded its quarterly monetary policy committee meeting on Wednesday. China’s November consumer prices fell 0.5% from a year earlier, and producer costs dropped 3%, more than expected and deeper into negative territory, underscoring the ... (full story)