China to keep monetary policy stable

Stable economy: A man is seen walking at the central business district in Guangzhou. China’s consumer price index rose 2.7% year-on-year in July, following a 2.5% rise in the previous month. — AFP

BEIJING: China will likely keep its monetary policy stable and on target in the second half as consumer inflation is expected to rise mildly within a reasonable range in the rest of the year, experts say.

Their comments came as China’s consumer inflation accelerated to the highest level in two years, largely driven by surging pork prices, but it still managed to come in weaker than expected in July.