央行：社会融资成本处于历史较低水平，金融市场总体运行平稳

Core Viewpoint - The People's Bank of China emphasizes the need for a moderately loose monetary policy to support high-quality economic development and create a favorable financial environment for economic recovery [1] Monetary Policy - The monetary policy has been appropriately loosened this year, with increased macroeconomic regulation efforts [1] - Various monetary policy tools are being utilized to strengthen counter-cyclical adjustments [1] - The effectiveness of the loan market quotation rate reform continues to be released, enhancing the efficiency of monetary policy transmission [1] Financial Environment - Social financing costs are at historically low levels, indicating a supportive environment for businesses [1] - The foreign exchange market is generally balanced, with a stable current account surplus and sufficient foreign exchange reserves [1] - The RMB exchange rate remains stable at a reasonable equilibrium level, with two-way fluctuations [1] Market Stability - Overall, the financial market operates smoothly, reflecting the effectiveness of the current monetary policy measures [1]