“Calibrating China’s zero-COVID strategy to mitigate the country’s economic impact will be critical to sustaining and balancing the recovery“Gita Gopinath, first deputy managing director of the International Monetary Fund (IMF), said at the Caixin Summit on Thursday.
Gopinath has also added, through a video call, that in the case of China, inflation and weakening growth allow for greater support for vulnerable households, which, along with strengthening social safety nets, would promote consumption.
Earlier in the day, the People’s Bank of China (PBoC) has shown in its Third Quarter Monetary Policy Report (MPI). “It will increase the intensity of prudent monetary policy instead of issuing excess currency, it will strengthen the adjustment between cycles to balance short-term and long-term needs, economic growth and price stability, as well as the internal and external environment” .
Source: Fx Street
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