Q1 Meeting of China’s Monetary Policy Committee Stresses Continued Stability

80

The latest meeting of the monetary policy committee of the People’s Bank of China’s (PBOC) has stressed the maintenance of stable policy settings going forward.

The first quarter meeting of PBOC’s monetary policy committee called for “making stability the watchword, seeking progress amidst stability, strengthening cross-cyclical and counter-cynical adjustments, and expanding the vigour of the implementation of steady monetary policy.”

The committee said that it would “further clear out monetary policy transmission mechanisms, maintain rationally ample liquidity, strengthen the stability of growth in the total volume of lending, and maintain the basic stability of the macro-leverage ratio.”

PBOC’s monetary policy committee also flagged “guidance of financial institutions to expand support for micro-and-small enterprises, tech innovation and green development,” alongside deepening of supply-side restructure reforms.