PBOC to Keep Policy Supportive for China Economy, Governor Says

The PBOC has taken a modest approach to easing this year as weak borrowing demand in the face of Covid lockdowns and the tightening of monetary policy overseas narrowed its policy leeway

(Bloomberg) — The People’s Bank of China (PBOC) pledged to maintain a supportive monetary policy to aid the economy’s recovery from Covid outbreaks and lockdowns and other stresses.

“Monetary policy will continue to be accommodative to support economic recovery in an aggregate sense,” Governor Yi Gang said in an interview with state broadcaster China Global Television Network, according to a transcript released Monday by the central bank.