Our monetary analysis confirms the assessment of low inflationary pressures over the medium term, with money and credit growth remaining weak. All in all, inflation expectations remain firmly anchored in line with our aim of keeping inflation rates below, but close to, 2% over the medium term. Monetary policy – exit from non-standard measures Let me now turn to monetary policy.
Xiang Junbo: The establishment of the PBC Shanghai Head Office Speech by Mr Xiang Junbo, Deputy Governor of the People’s Bank of China, at the inauguration ceremony of the People’s Bank of China Shanghai Head Office, Shanghai, 10 August 2005.