China Vows to Use Monetary Policy Tools at ‘Appropriate Time’

Chinese authorities have made repeated vows to stabilize the economy in recent weeks as Covid restrictions curtail spending and business activity.

(Bloomberg) — China signaled it would loosen monetary policy as authorities seek to combat an escalating Covid outbreak, slumping property market and spiking commodity prices.

Officials will use monetary policy tools at an “appropriate time” and consider other measures to boost consumption, according to the readout from a meeting of the State Council chaired by Premier Li Keqiang Wednesday. Separately, the central bank published a draft outline for a stability fund to provide support to troubled financial firms.