MNI BRIEF: PBOC Pledges To Keep Liquidity Ample
MNI (LONDON) - The People’s Bank of China will strengthen counter-cyclical efforts and keep liquidity ample through available tools including interest rates and reserve requirement ratio reductions, according to the latest Monetary Policy Report posted on the Bank’s website on Thursday.
The Bank will closely monitor changes in monetary policies of major overseas counterparts and optimize policy in a timely manner based on domestic and international economic and financial conditions, the Report stated. (See:MNI: PBOC To Make Q1 Cut After Stance Shift-Former Officials)
While preventing excess funds circulating inside financial system, the PBOC will guide financial institutions to explore credit demand and increase support for key consumption sectors, while focusing on activating existing commercial housing and land in a bid to stabilize the real estate market and assist in building a new development model for the sector, it pointed out.