The governor of the People’s Bank of China (PBoC), Yi Gang, declared on Wednesday that the central bank “will be able to maintain normal monetary policy and positive interest rates for as long as possible“.
“China’s potential economic growth is expected to remain within a reasonable rangeYi added.
Additional comments
Specific support to key and weak sectors will be intensified.
Will improve the currency exchange system market-oriented float, and will effectively manage and guide market expectations.
It will deepen the financial reforms on the supply side.
will strengthen and improve the financial sector supervision and a long-term plan will be established to stabilize it.
Financial institutions and stakeholders must take responsibility for “rescuing themselves” from risks.
Source: Fx Street
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