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PBOC Pledges Stronger Support To The Economy-Yicai

CHINA PRESS
MNI (Singapore)

The People’s Bank of China pledged to increase the intensity of prudent monetary policy but avoid massive stimulus and excessive money printing, as it looks to balance economic growth and price stability, Yicai.com reported, citing the central bank’s Q2 monetary policy report released late Wednesday. The PBOC warned of increasing structural inflation pressure, with CPI set to rise from the 1.7% level seen in H1, likely exceeding 3.0% in some months in H2, said Yicai. Still, it is widely believed that overall price pressures will remain subdued and will not constrain monetary policy, providing space for stabilizing growth and expanding demand, said Yicai, citing analysts.

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