PBOC reaffirms to continue implementing prudent monetary policy

  • Remarks from the PBOC's head of monetary policy, Zou Lan
  • To consolidate financing support for the real economy as demand still needs time to pick up
  • To maintain the trend of economic recovery amid "scarring effect" of Covid-19
  • Expects inflation to pick up later this year
  • But sees no basis for long-term deflation or inflation in the country

This just reaffirms that they are sticking to the current policy stance and that they will continue to manage things as they have been recently, focusing more on bolstering the economy as it continues to recover from the depths of the pandemic.

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