PBOC reaffirms to implement prudent monetary policy

  • To implement prudent monetary policy accurately and forcefully
  • To effectively support domestic demand expansion, improve private consumption environment
  • To ensure delivery of housing, promote healthy development of real estate market
  • To keep liquidity reasonably ample, also maintain reasonable credit growth

The main message is the same, in that they are still going to do what they can to bolster support for the economy. The issue here is that so far, a lot of these measures have not really helped and with corporate profits falling and domestic demand stuttering, Beijing might have to really step up to try and get things back on track post-Covid.

This article was written by Justin Low at www.forexlive.com. Source