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PBOC To Keep Implementing Moderately Accommodative Monetary Policy, Further Improve Interest Rate Regulation Framework
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The People's Bank of China (PBOC) released the 1Q26 China Monetary Policy Implementation Report, noting that changes in the external environment deepened their impact, and that global economic growth momentum remained feeble, geopolitical risks continued to escalate, supply shocks and imported inflationary pressures emerged, major economies showed mixed performance, and there was uncertainty over monetary policy adjustments by central banks worldwide. Meanwhile, China's economy is advancing toward higher-quality development with new growth drivers and improvements, but the foundation for sustained stable recovery still needs to be further consolidated. The supporting conditions and fundamental trend for China's long-term positive economic outlook remain intact, said the report. Institutional strengths and the advantages of a large economy continue to be demonstrated. The PBOC urged that confidence should be strengthened, advantages fully leveraged, and various risks and challenges calmly addressed to enhance economic resilience and solidify the foundation for development. The PBOC will continue to implement a moderately accommodative monetary policy. It will enhance the forward-looking, flexible and targeted nature of policy, appropriately manage the intensity, pace and timing of policy implementation in accordance with internal and external economic and financial conditions as well as financial market performance, strengthen coordination between monetary and fiscal policies, smooth the transmission mechanism of monetary policy, and promote stable economic growth and a reasonable rebound in prices. In addition, the Chinese central bank will further improve the interest rate regulation framework, fortify the guidance role of the central bank's policy rates, refine the market-based interest rate formation and transmission mechanism, give full play to the self-regulatory mechanism for market-based interest rate pricing, enhance the implementation and supervision of interest rate policies, lower banks' funding costs, and guide financial institutions to improve their interest rate pricing capabilities, thereby promoting lower overall financing costs for the economy. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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