Will keep liquidity ample.To guide financial institutions to step up credit supply.Will enhance central bank policy interest rate guidance.To give full play to the role of the self-discipline mechanism for market interest rate pricing.To enhance interest rate policy implementation.To guide social financing cost to lower.To pay attention to the changes in long-term yields in bond market.To prevent forex rate overshooting risk.To keep yuan exchange rate basically stable at reasonable, balanced level.To intensify efforts to revitalise existing commercial housing and land.To consolidate stabilising trend in property market.To expand domestic demand, stabilise expectations.To step up implementation of incremental policies.To support banks replenishing capital.To use financial services to support private economy.To improve efficiency in fund use, prevent fund from going idle.
We have heard this stuff many times before, but they continue to have positive real rates in a deflationary environment. They should cut more aggressively and faster in my opinion.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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