PBOC Governor says monetary policy will provide support for China’s economic recovery

People’s Bank of China Governor Pan Gongsheng is speaking at the 2024 Lujiazui Forum in Shanghai”

  • Monetary policy is supportive
  • Monetary policy will provide financial support for China’s economic recovery
  • The weakening momentum of the USD’s rise is a benefit to the yuan
  • Wants to strengthen counter- and cross-cyclical policy adjustment
  • PBOC aims to maintain stability in policy
  • Will prevent the exchange rate from over shooting

more to come

From the website:

  • Lujiazui Forum was created as a high-level global platform for government officials, world financial leaders and outstanding scholars to discuss and foster international financial cooperation and further the financial reform and market opening in China. Named after the financial district of Shanghai, China’s financial capital, the forum also symbolizes Shanghai’s vision of becoming a leading international financial center.

This article was written by Eamonn Sheridan at www.forexlive.com. Source