News

PBOC’s Yi: Will be able to maintain normal monetary policy and positive interest rates

People’s Bank of China (PBOC) Governor Yi Gang said on Wednesday, the central bank “will be able to maintain a normal monetary policy and positive interest rates for as long as possible.”

“China's potential economic growth is expected to be kept within a reasonable range,” Yi added.

Additional comments

Will step up targeted support for key and weak sectors.

Will improve market-oriented floating foreign exchange system, effectively manage and guide market expectations.

Will deepen supply-side financial reforms.

Will strengthen and improve supervision of financial sector, establish long-term scheme to stabilise financial sector.

Financial institutions and stakeholders should shoulder responsibility of 'rescuing themselves' from risks.

Market reaction

The USD/CNY pair was last seen trading at 7.2730, modestly flat on the day.

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