People's Bank of China official:

  • monetary policy to further improve cross-cyclical adjustments, maintain stable and moderate credit development
  • will keep liquidity reasonably ample
  • will avoid flood-like stimulus, keep prices stable

This is regular sort of stuff from the People's Bank of China. The economy is being pummelled by COVID lockdowns, a property sector implosion, power shortages in major industrial hubs ....

And we get from the PBOC:

This is fine meme

Sheesh.

BTW, I shouldn't single out the PBOC. The Fed is way, way behind the curve in its battle with inflation , as is the RBA and others. The Bank of England , well, they are just a basket case.

Maybe I should nominate the Reserve Bank of New Zealand as at least getting on the ball very early. And the BOJ, nothing bothers that lot.