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China’s central bank signals more policy support for economy
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Bank of China (PBOC) hinted at more policy support for the economy, while also urging patience for the recovery to take hold. Top central bank officials said they have enough room to ease monetary policy if needed and hinted at possible adjustments to the reserve requirement ratio for banks and further targeted easing of property controls.
«We still have ample policy room to deal with unexpected challenges and changes,» Deputy Governor Liu Guoqiang told reporters in Beijing on Friday. «We need to be patient and confident in the economy's continued and steady growth.» China will implement targeted monetary policy and strengthen counter-cyclical adjustments, Liu said.
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