PBOC’s Yi: Will keep money supply growth rate in line with nominal GDP growth rate

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People’s Bank of China Governor (PBOC) Yi Gang said on Monday that they will keep the money supply growth rate in line with the nominal GDP growth rate, as reported by Reuters.

Additional takeaways

“Will adjust to new economic developments in a timely manner.”

“At the same time, will be looking to maintain policy stability to avoid policy cliff.”

“Will strike a balance between stabilising economic growth and preventing risks.”

“Aiming to keep yield curve upward sloping.”

Market reaction

There was no immediate market reaction to these comments. As of writing, the USD/CNY pair was down 0.04% on the day at 6.4785.

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