Feb 25, 2023 05:11 AM

FINANCE

China’s Central Bank Vows to Balance Growth and Inflation

By Wang Shiyu and Denise Jia

In 2022, the People’s Bank of China released more than $145 billion of long-term funds through two cuts in banks’ required reserve ratio.

In 2022, the People’s Bank of China released more than $145 billion of long-term funds through two cuts in banks’ required reserve ratio.

China’s central bank pledged to strike a balance between supporting growth and preventing inflation risks this year as it assesses the economy’s need for further stimulus amid a faster-than-expected recovery following the scrapping of Covid restrictions.

The People’s Bank of China (PBOC) will maintain a targeted, forceful and stable monetary policy to provide sustainable support for the real economy and refrain from using “flood-style” stimulus, the central bank said Friday in its quarterly monetary policy report.

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