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PBOC To Support Recovery With Aggregate Policy Tools-Governor Yi

CHINA PRESS
MNI (Singapore)

China’s monetary policy will continue to be accommodative to support economic recovery in the aggregate, while emphasizing the use of structural tools to support SMEs and the green transition, said Governor Yi Gang of the People’s Bank of China in an interview with China Global Television Network. The real interest rate is low after taking into account of inflation, Yi was cited as saying, noting that the current time deposit rate is 1%-2% and bank loan rate is 4%-5%. Inflation outlook is stable in China and maintaining price stability and maximising employment are the PBOC’s high priorities, said Yi.

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