People's Bank of China: Implement a moderately loose monetary policy, timely reduce the reserve requirement ratio and interest rates, and maintain ample liquidity
The People's Bank of China held a meeting, emphasizing the implementation of a moderately loose monetary policy, timely reserve requirement ratio cuts and interest rate reductions, and maintaining ample liquidity. The meeting pointed out the need to comprehensively use various monetary policy tools to ensure that the growth of social financing scale and money supply aligns with economic growth and price expectation targets. At the same time, it aims to guide banks to meet effective credit demand, enhance the stability of credit growth, promote a steady decline in the comprehensive financing costs of society, and maintain the basic stability of the RMB exchange rate
The Communist Party Committee of the People's Bank of China held a meeting, chaired by Pan Gongsheng, Secretary of the Party Committee and Governor of the People's Bank of China. The meeting emphasized the implementation of a moderately loose monetary policy. It called for the comprehensive use of various monetary policy tools, timely reductions in reserve requirements and interest rates, and maintaining ample liquidity to ensure that the growth of social financing scale and money supply aligns with economic growth and the expected targets for overall price levels. It aims to guide banks to fully meet effective credit demand and enhance the stability of credit growth. The meeting also stressed the importance of executing and transmitting interest rate policies to promote a steady decline in the comprehensive financing costs for society. Additionally, it called for enhancing the resilience of the foreign exchange market, stabilizing market expectations, and maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level.
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