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China central-bank adviser urges more tightening

China central-bank adviser urges more tightening (by Chris Oliver)

HONG KONG (MarketWatch) -- The People's Bank of China should lift interest rates and boost the ratio of funds banks must aside as reserves in an effort to contain inflation, a central-bank adviser said, according to a report Wednesday in the China Securities Journal. The adviser and monetary policy committee member, Li Daokui, didn't specify in how much he thought interest rates should rise, but he added that the central bank should avoid any "dramatic" adjustments, according to the report.

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China central-bank adviser urges more tightening