THE People's Bank of China (PBOC) on Monday ramped up its monetary policy, including cuts in a key short-term rate and market-based benchmark lending rates, in the latest move to strengthen countercyclical adjustment and increase support for the real economy.
THE People's Bank of China on Monday ramped up its monetary policy, including cuts in a key short-term rate and market-based benchmark lending rates, in the latest move to strengthen countercyclical adjustment and increase support for the real economy.Analysts said the decisive move at a critical moment shows the bank's resolve to bolster sustained economic growth.
However, given growing pressure on the economy, especially weak demand, countercyclical adjustments should be strengthened, Wen Bin, chief economist at China Minsheng Bank, told the Global Times on Monday.'The central bank's decisive move reflects its determination to bolster economic growth.
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