PBoC sees stable policy, inflation below target

Stable prices: People buying vegetables at a market in Shenyang Liaoning province. Inflation is expected to stay under 2%, below the government’s official target of 3%. — AFP

SHANGHAI: China’s central bank governor Yi Gang says consumer inflation will likely stay below the government’s target this year and monetary policy must remain stable, seeking to downplay concerns of rising prices in the economy.

Inflation is expected to stay under 2%, Yi said at the Lujiazui Forum in Shanghai, below the government’s official target of about 3%.