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PBOC to Improve Structural Monetary Policy Tool System Including Arrangements to Maintain Capital Mkt Stability
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Xuan Changneng, Deputy Governor of the People's Bank of China (PBOC), attended the Asia in 2050 Conference hosted by the International Monetary Fund (IMF) and the Bank of Thailand (BOT) last week. During his speech on the topic 'challenges faced by Asian central banks', Xuan highlighted that emerging market economies faced multiple opportunities and challenges. Asian central banks should strive to enhance economic resilience, improve monetary policy frameworks, strengthen macroeconomic policy coordination and cooperation, and better respond to external shocks. The PBOC will insist on implementing a moderately loose monetary policy to create a suitable monetary and financial environment for sustained economic improvement. Meanwhile, the PBOC will continue to improve the monetary policy framework, enrich the monetary policy toolbox, and enhance the structural monetary policy tool system, including arrangements to maintain capital market stability. It will also research the establishment of a liquidity support mechanism for non-bank institutions under specific circumstances. AASTOCKS Financial News |
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