The People’s Bank of China will adopt various monetary policy tools to ensure reasonable and sufficient liquidity and increase the annual growth of the broad-based money supply and social financing significantly higher than the last year, Governor Yi Gang said in an interview.
According to an interview published by the central bank, Yi said the PBoC will continue the targeted and moderate approach to stimulus.
Despite the impact of the coronavirus pandemic, economic fundamentals are unchanged, he said.
The pandemic has added downward pressure on the quality of bank assets. He sees the risk of increasing non-performing loans.
At the annual session of the National People’s Congress in Beijing, last week, Premier Li Keqiang said the monetary policy will be more flexible.
The material has been provided by InstaForex Company – www.instaforex.com
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