China Central Bank Governor Reiterates Stable Policy Stance

(Bloomberg) — China’s central bank will keep monetary policy targeted and ensure credit growth is stable, Governor Yi Gang said, keeping the policy stance largely unchanged despite rising calls for more stimulus.

Speaking to businesses and banks in Shanghai, Yi said he has confidence the government’s official economic growth target of around 5% can be achieved this year. Inflation is expected to gradually rebound in the second half of the year, he said. The speech was delivered earlier this week and was posted Friday on the website of the People’s Bank of China (PBOC).