The central bank would keep RMB deposit rate unchanged, said Tang Xu, head of Research Bureau of People's Bank of China.

Tang Xu said on Friday in a interview with China News Service during a banking forum.

The governor of the central bank Zhou Xiaochuan said on the same occasion that the reason that the bank left the deposit rate unchanged is to boost domestic consumption.

The central bank said on April 27 that it would raise RMB lending rate 27 basis points. It was considered by the market as a signal that the bank would enter the process of raising its interest rates. China has reported a gross domestic product growth of 10.2% for the first quarter and The trend of the fixed asset investment being overheated has aroused the high attention of the market.

Yi Gang, an assistant to the governor of the central bank, said that the current situation of China's macro-economy is comparatively stable, with low inflation and high increase. It is the way of using currency policy to fine-tune the macro-economy that has kept the economy growing on a fast, stable track, said he.

But Yi declined to comment on whether the central bank would change the reserve margin.
 
Editor: Yan