PBOC to keep monetary policy loose and flexible to boost growth – Global Times
China’s highly influential media outlet, Global Times, carried as story late Thursday, citing that the People’s Bank of China (PBOC) is likely to keep its monetary policy easy going ahead, in an effort to bolster the economic growth.
Key quotes
“According to PBOC officials, China is not likely to change its trend of monetary policy easing soon. Monetary policy in the coming months will continue to serve the "Six Priorities" and remain appropriately loose and flexible.
PBOC governor Yi Gang recently noted that in the second half of 2020, the central bank will use monetary policy to ensure liquidity is at a "reasonably ample" level, with new loans to hit 20 trillion yuan for the full year and total social financing likely to increase to 30 trillion yuan.
Yi also noted that the financial support offered during the epidemic response period is being phased out, and China should pay attention to the aftermath of the policy and consider the timely withdrawal of policy tools in advance.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
