The People's Bank of China published a statement on Saturday covering comments from Governor Yi Gang at the G20 finance minister and central bank governor meeting.
- China will step up the implementation of its prudent monetary policy
- will provide stronger economic support
- the economy is facing “certain downward pressures” due to the pandemic and external factors
- domestic inflation is relatively low
The Gov. and other PBOC officials have been repeating comments such as this for months now. No surprise in these.
Note, the next interest rate setting from the PBOC is due on Wednesday this week. No change is the consensus expectation:
