Core Viewpoint - The People's Bank of China emphasizes the need for proactive and targeted monetary policy adjustments to align with domestic and international economic conditions, aiming to enhance the effectiveness of policy measures [1] Monetary Policy Strategy - The meeting discussed strengthening monetary policy regulation and improving its foresight, targeting, and effectiveness based on economic and financial market conditions [1] - It is suggested to maintain ample liquidity and encourage financial institutions to increase credit supply, ensuring that the growth of social financing and money supply aligns with economic growth and price level expectations [1] Interest Rate Management - The central bank aims to reinforce the guidance of policy interest rates and improve the transmission mechanism of market-based interest rates, enhancing the self-discipline of market interest rate pricing [1] - There is a focus on executing and supervising interest rate policies to promote a decrease in the overall financing costs for society [1] Debt Market Monitoring - From a macro-prudential perspective, the meeting highlighted the importance of observing and assessing the debt market's performance, particularly the changes in long-term yields [1] Currency Stability - The central bank intends to enhance the resilience of the foreign exchange market, stabilize market expectations, and prevent excessive fluctuations in the exchange rate, maintaining the RMB's stability at a reasonable and balanced level [1]
央行：保持流动性充裕 引导金融机构加大货币信贷投放力度 使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配
Mei Ri Jing Ji Xin Wen·2025-09-26 11:14