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MNI BRIEF: PBOC Plans More Tools To Boost Economy

SINGAPORE (MNI)

The People’s Bank of China is mulling new supportive measures to stabilise credit and lower financing cost for key sectors that have been hit by Covid-19 outbreaks, Chen Yulu, vice-governor of the central bank told reporters Thursday.

The PBOC will give more prominence to keeping "growth stability ” and enhancing cross-cyclical adjustment, Chen said, pointing to efforts the central bank has made, including keeping liquidity ample via cuts in the reserve requirement ratio, guiding loan rates down and introducing a series of targeted tools, see: MNI: China Inflation Surge Limits Policy Space.

The central bank will continue to optimise green financing system to push carbon emission reduction and a policy bottom line of preventing any systemic financial risk, he said.

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