The State Taxation Administration, the Ministry of Finance and the Ministry of Information Industry also organized pilot projects to popularize the use of tax control POS machines. All these efforts provide a sound external environment for bankcard’s development.
I mentioned the concept of a “neutral” interest rate, and the belief that the federal funds rate will be close to neutral after another 75-basis point increase at the end of this month. But some would argue that monetary policy is actually further away from neutral, based on the fact that current inflation is so much higher than the federal funds rate.