I don't think the jump is mainly caused by the revaluation of RMB. The main reason, I believe, is that commercial banks are tempted to put money in the inter-bank market where potential risks are lower than lending.
That's simply because people think the appreciation was not big enough and fell short of market expectations.
I know some songs popular on the campus are not good, and I really want to learn vivid, good ones, but so far I fail to find only a few.
It indicates the central bank still wants to keep its control of money and has no intention to get expansive. It is still emphasizing prudence.
The increasing savings show a shrinking domestic demand. That is partly due to the government's efforts to cool down the real estate industry, and people finding a narrower channel for investment.
Monetary policy has to be somewhat accommodative, since a tightening in credit will likely cause liquidity difficulties in businesses that are suffering from overcapacity.
I hope more sound, elated songs will be written, so that we can grow up happy and contented in a world of children's lovely songs.
