People's Bank of China vows targeted, effective monetary policy

26 Feb 23 1 min read

The People's Bank of China (PBOC) recently vowed to make its monetary policy targeted and effective to offer sustainable support to the economy. Its fourth-quarter 2022 monetary policy report said it will intensify efforts to expand domestic demand and continue to deepen market-based interest rate reforms to lower financing costs for businesses and consumption credit costs for individuals.

The central bank will guide financial institutions to strengthen financial services in fields like inclusive finance, technological innovation and green development to push the consumption recovery and tap the economy's potential, a Chinese state-controlled media outlet reported.

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It would keep a close eye on the trends of inflation in the future and move to ensure the supply and price stability of grain and energy.

Fibre2Fashion News Desk (DS)

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