China's central bank has announced a 'moderately loose' monetary plan to stimulate domestic demand and drive economic recovery. The People's Bank of China (PBoC) aims to cut interest rates and the reserve requirement ratio to encourage lending and investment. The move follows President Xi Jinping's call for proactive macroeconomic policies to address the economic slowdown last year. The PBoC also pledged to combat financial corruption and support local governments in managing their debt burdens.
BEIJING—China’s central bank has outlined a “moderately loose” monetary plan aimed at boosting domestic demand to spur growth, days after President Xi Jinping called for more proactive macroeconomic policies.
The People’s Bank of China said in a statement it will “implement a moderately loose monetary policy… to create a good monetary and financial environment for promoting sustained economic recovery”. It said the changes would be made “at an appropriate time” depending on conditions at home and abroad. It also said it would continue to help local governments resolve debt burdens with “financial support”.
CHINA ECONOMY MONETARY POLICY INTEREST RATES GROWTH
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