- Will keep liquidity ample.
- To guide financial institutions to step up credit supply.
- Will enhance central bank policy interest rate guidance.
- To give full play to the role of the self-discipline mechanism for market interest rate pricing.
- To enhance interest rate policy implementation.
- To guide social financing cost to lower.
- To pay attention to the changes in long-term yields in bond market.
- To prevent forex rate overshooting risk.
- To keep yuan exchange rate basically stable at reasonable, balanced level.
- To intensify efforts to revitalise existing commercial housing and land.
- To consolidate stabilising trend in property market.
- To expand domestic demand, stabilise expectations.
- To step up implementation of incremental policies.
- To support banks replenishing capital.
- To use financial services to support private economy.
- To improve efficiency in fund use, prevent fund from going idle.
We have heard this stuff many times before, but they continue to have positive real rates in a deflationary environment. They should cut more aggressively and faster in my opinion.
This article was written by Giuseppe Dellamotta at www.forexlive.com.