PBOC to ensure ‘appropriate money growth’ after credit, economic slowdown – SCMP

Dhwani Mehta FXStreet

“The People’s Bank of China (PBOC) will keep monetary policy stable with a good cross-cyclical design and will support high-quality economic expansion with “appropriate money growth,” the South China Morning Post (SCMP) reports, citing a statement released by the Chinese central bank late Monday.

Key quotes

PBOC “will basically match the expansion of money supply and social financing to nominal economic growth” and enhance the structure of credit to encourage more funding to technological innovation, green development, and small businesses.”

“PBOC called for efforts to push down real lending rates and financing costs for small companies.”

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