Meeting of China’s Monetary Policy Committee
May 4, 2009 by admin · Leave a Comment
4/12/09
The Monetary Policy Committee of the People’s Bank of China (PBC) held its first quarterly meeting of 2009 in Beijing days ago.
After analyzing the economic and financial situation, the Committee held that the international financial crisis further spread and deepened, and the international financial market was still in turbulence. In order to cope with the impacts brought about by the crisis and promote the stable and relatively rapid economic development in China, the government adjusted the direction of macroeconomic policy in a timely manner and took a series of policy measures to stimulate domestic demand. At present, these policy measures have taken preliminary effects, and the Chinese economy is showing positive signs, including adequate liquidity in the banking system, rapid growth of money and credit supply and stable operation of the financial system.
After studying the direction and measures of monetary policy in the next stage, the Committee held that, in view of implementing the decisions and arrangements made by the CPC Central Committee and the State Council on macroeconomic management, relatively loose monetary policy should be conducted and policy consistency be maintained. Read more about China’s central bank…
