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 BEIJING (AP) - China's biggest economic risk this year is inflation and the central bank will stick to a tight monetary policy despite the impact of January snowstorms and the U.S. credit crisis, said a central banker quoted Monday by news reports.
"This year we will closely monitor the increase of the money supply and carry out a tight monetary policy," said Yi Gang, a vice governor of the People's Bank of China, quoted by the business magazine Caijing and other outlets.
Yi said that was despite the fact that China expected its economy to feel the impact of the U.S. subprime mortgage crisis and snowstorms in January that wrecked crops and pushed up inflation.
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