The Central Bank of China released the monetary policy implementation report for the first quarter of this year on the evening of 3, warning that the pressure of China's price rise is still relatively large. In the future, there are many factors to promote the inflation expectations of the whole society and the upward pressure on prices.

On the macro economic situation of China, the central bank said that the pressure of China's rising prices is still relatively large, and international commodity prices continue to rise.

On the domestic price trend, the central bank is more honest. With the further consolidation of the economic growth situation, the rapid rise in price has become the most prominent problem in the economic operation.

The central bank said that at present, a large amount of capital is flowing into the fast growing emerging economies, and the inflationary pressures on the global scale have increased. In addition, the scale of China's investment has expanded substantially in the previous two years, and there are more projects under construction, and the aggregate demand has rebounded faster, which has promoted the inflation expectations of the whole society and increased the pressure on prices.

The central bank also predicts the future.

For the future policy direction, the central bank said that macroeconomic policies need to guard against structural and trend price increases and inflation expectations, intertwined and mutually driven, thus further exacerbating inflationary pressures.

With regard to the increase in the deposit reserve ratio, the central bank has clearly stated that the reserve requirement is "partial liquidity caused by foreign exchange inflows". Its strength and adjustment depends on many variable conditions, so there is no absolute upper limit.