Efforts will be made to provide quality financial services to enterprises by strengthening the coordination between RMB and foreign currency policies, and improving the formation mechanism of RMB interest rate and exchange rate.
1 This increase came after seven years during which we kept the federal funds rate at what we call the ELB--the effective lower bound. This ultralow rate was in keeping with our congressional mandate to pursue a monetary policy that fosters maximum employment and price stability, which we define as 2 percent inflation.