The current inflation is global. China's accession to the WTO is inevitable. The current inflation is mainly due to the general increase in global raw material prices. The factors here are very complicated. Just after the financial crisis in 2008, the consumer confidence index is generally in the stage of shock and rise. Therefore, the slight increase in raw material prices is reasonable. The speculation of hot money, such as malicious low-price hoarding of oil, leads to oil shortage. Once the oil price soars, the difference will be shared by every industry in China. For example, the increase in freight and so on. Then the cost will rise, which will inevitably lead to inflation.

In fact, the central bank's interest rate hike can only effectively curb one kind of inflation-demand inflation. In other words, it is the measures taken to prevent the economy from overheating when the domestic or global economy recovers in an all-round way and the demand does exceed the supply. Its role is to curb the amount of loans (in theory, fewer people will continue or refinance because of the increase in loan interest). ) and the amount of deposits attracted (in theory, raising interest rates can stimulate more people to participate in deposits, especially the elderly in China. ) thus reducing the currency circulation in the domestic financial market. However, the current inflation is not a demand, but a price increase factor. Rising prices of commodities such as oil, iron ore and food will not significantly reduce demand. For example, even if the No.93 gasoline rises to 10 yuan per liter, people will still drive. Even if the price of rice is 20 yuan per kilogram, people will still buy it. In other words, inflation caused by price factors cannot be solved by raising interest rates. This solution is definitely not a permanent solution.

Of course, China's national condition is that domestic real estate hot money is still hot. The central bank's interest rate hike will bring a certain cooling effect to hot money to a certain extent, and theoretically slow down inflation on the one hand. But we all know that it is impossible to solve the inflation problem of1300 million people by raising interest rates alone. In the years after each financial crisis, inflation will be a difficult problem for every head of state. That is, in these key years, the ups and downs of the future economic cycle can basically be fixed. As long as inflation is tamed and controlled at 3-4%, it will be beneficial to economic development. Inflation is too high, especially in China. It will bring a series of social and psychological problems.