People's Bank of China Implements Moderately Accommodative Monetary Policy and Adjusts Tools

The People's Bank of China (PBOC) insists on implementing a moderately accommodative monetary policy to support stable economic growth, high-quality development, and smooth operation of financial markets. The policy will enhance foresight, flexibility, and targeting, utilizing and timely adjusting monetary policy tools based on domestic and international economic and financial conditions as well as market operations. The goal is to maintain ample liquidity and relatively loose social financing conditions, guiding the growth of social financing scale and money supply to align with economic growth and overall price level expectations. At the same time, it aims to promote the reform and improvement of the monetary policy operation framework to better guide short-term interest rates in the money market to operate smoothly around the policy interest rate.

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