The People’s Bank of China said it will use “comprehensively a series of monetary policy tools and maintain reasonably ample liquidity.” The comments are part of a statement released Wednesday and follow the PBOC’s annual business conference.
The PBOC is expected to keep monetary policy loose at least for the next several months as the economy is still plagued by widespread virus infections following the abrupt withdrawal of the country’s COVID Zero strategy.
The monetary stimulus in 2023 will be at least as strong as last year, and policy will focus on supporting domestic demand, officials recently said.
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The PBOC is also seen as having more room this year to ease its monetary policy on expectations that the Federal Reserve will complete its interest rate hikes, which would support the yuan against the dollar.
The central bank also aims to continue to prevent financial risks and push forward the digital yuan pilot plan in 2023, it said.
Source: Gestion
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