China tightens money policy; steel impact to be slow

Aug 06, 2009 | 02:01 PM |

China's monetary policy is "at its loosest" and will gradually tighten after the central bank announced "fine-tuning" measures, according to analysts. However, the impact on steel is expected to be slow in the making and minimal, according to sources.

"In the next stage, the People's Bank of China will firmly stick to a moderately loose monetary policy . . . paying attention to fine-tuning market-oriented measures," the central bank said in its monetary policy summary report released on Wednesday.....

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