China central banker says policy is still accommodative

Wed Jan 27, 2010 6:44am EST
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DAVOS, Switzerland (Reuters) - China's monetary and fiscal policy is still relatively accommodative, Zhu Min, a vice governor with the People's Bank of China, said on Wednesday.

"China will continue and also make sure to sustain the current policy. It is still a relatively accommodative fiscal and monetary policy," he told CNBC from the World Economic Forum in Davos.

Fears of more Chinese policy tightening spooked global markets on Tuesday after Beijing ordered some banks to comply immediately with a planned increase in reserves and a report suggested earlier attempts at curbing lending had failed.

(Writing by Mike Peacock)