China’s central bank will boost demand and support a modest rebound in prices, the Financial News, a publication run by the People’s Bank of China (PBOC) said on Wednesday, citing a unnamed senior central bank official.
The PBOC will ramp up its coordination with fiscal and industrial policies and strengthen the guidance of expectations, while closely monitoring the effects of financial policies, the official was quoted as saying.
The central bank “will create an appropriate monetary and financial environment to promote effective demand in the real economy, support a moderate recovery in prices and enhance economic vitality,” the official said.
China’s firm credit growth was also in line with the recovery, as borrowing costs in the real economy fell, the official was quoted as saying.
New bank loans beat expectations by nearly quadrupling in August from July’s level, as the central bank sought to shore up economic growth amid soft demand at home and abroad.
Source: Reuters
