HomePBOC: Boosting support for the real economy is essential.

PBOC: Boosting support for the real economy is essential.

People's Bank of China:Urgesfinancial institutions to act swiftly in implementing expansivefinancial policiesNecessary to increase credit support for the real economy,maintain a reasonable growth in the total amount of money and creditNecessary to also strengthen the implementation and transmissionof interest rate policies, and solidly organise the batch adjustmentof interest rates to reduce the stock of housing loansEarlier today we had the news of depo rate cuts at Chinese banks:Confirmation news - China banks cut fixed deposit rates by 25bpMore banks have announced 25bp rate cuts since then. PBoC, NFRA and CSRC held a meeting with major financial institutions. This article was written by Eamonn Sheridan at www.forexlive.com.

By admin

October 18, 2024

People’s Bank of China (PBoC):

Calls for quick action from financial institutions to implement wide-ranging financial policies.
Stresses the need to boost credit support for the economy and ensure proper money and credit growth.
Emphasizes the importance of effective interest rate policies and adjusting housing loan rates.

Today, there were announcements of deposit rate cuts by Chinese banks: