"On Wednesday, the central bank announced its eighth cut since early 2018 in banks' reserve requirements (RRR), or the amount of cash that banks must hold as reserves, in a bid to shore up the economy.Analysts expect at least one more RRR cut this year.The central bank has also begun lowering its key lending rate in recent months, with more expected possibly before the end of this month, but the cuts have been far smaller than substantial easing in the United States and many other economies over the past year.Policy sources have told Reuters that Beijing plans to set a lower economic growth target of around 6 per cent in 2020.China's third-quarter growth slowed to 6 per cent, still among the fastest in the world but its weakest expansion in nearly three decades.It looks like the email address you entered is not valid.Copyright© Mediacorp 2020. This service is not intended for persons residing in the EU. No. ET. China's consumer inflation increased by 1.6 percent last year, lower than the yearly control target of 3 percent. The precious metal was up 2% just shy of $1940 per ounce as of 5.50 am. By Kristie Engemann, Public Affairs Staff. China - Inflation Inflation rises in June due to higher food prices. Pork prices could start to fall in the second half," said a second source.Still, the government may face a tough job in keeping inflation below 3 per cent this year, policy insiders said, adding that rising inflation expectations could reinforce the central bank's cautious approach to further policy easing. "On Wednesday, the central bank announced its eighth cut since early 2018 in banks' reserve requirement ratios (RRRs) - the amount of cash that banks must hold as reserves - in a bid to shore up the economy. All rights reserved We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. This article is now fully available for youPlease verify your e-mail to read this subscriber-only article in fullThe gift link for this subscriber-only article has expired.Get unlimited access to The Straits Times and more at S$ 0.99/month.You have reached your limit of subscriber-only articles this month "The State Council Information Office and the National Development and Reform Commission - the state planner - did not immediately respond to Reuters' requests for comment.China's consumer price inflation (CPI) accelerated to a near eight-year high of 4.5 per cent last November, as pork prices doubled owing to a massive outbreak of African swine fever, but producer prices have remained in deflation for five straight months.The diverging price trends have complicated policymakers' efforts to revive activity without risking overstimulating the economy.While Beijing has rolled out a series of support measures in the last two years, mainly in the form of higher infrastructure spending and tax cuts, leaders have pledged they will not embark on massive stimulus such as that during the 2008-2009 global financial crisis, which saddled the economy with a mountain of debt.A SOURCE, on China's consumer price inflation (CPI).China has kept its inflation target at around 3 per cent since 2015.While food prices have spiked, there has been little sign of a pick-up in inflation across the broader economy, suggesting demand remains sluggish.

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