BEIJING: China's latest interest rate rise earlier this month was not aimed at taming property prices, a senior central bank researcher said on Friday, Oct 29.

The central bank does not target asset prices when setting monetary policy, said Zhang Jianhua, the head of the research bureau at the People's Bank of China.

"China's housing prices shot up more than 40 percent from last year to this year, how could China match that with interest rate rises?" Zhang told an academic forum on BRIC countries — Brazil, Russia, India and China, in Beijing.

But he said the People's Bank of China (PBOC) is paying close attention to asset prices. — Reuters
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