人民银行：要继续实施适度宽松的货币政策

Core Viewpoint - The People's Bank of China emphasizes the need for a moderately loose monetary policy to support high-quality economic development and stabilize growth amid external uncertainties [1] Monetary Policy - The monetary policy committee meeting highlighted the increased macroeconomic regulation efforts and the effective release of loan market quotation rate reforms [1] - The adjustment mechanism for deposit rates has been effectively utilized, enhancing the transmission efficiency of monetary policy [1] - Social financing costs remain at historically low levels, contributing to a favorable monetary financial environment for economic stability [1] Economic Environment - The meeting acknowledged the deepening impact of external environmental changes, with insufficient growth momentum in the global economy and increasing trade barriers [1] - There is a noted divergence in economic performance among major economies, with uncertainties surrounding inflation trends and monetary policy adjustments [1] - Despite a generally stable economic operation in China, challenges such as strong supply versus weak demand remain prominent [1] Policy Recommendations - The need for continued implementation of moderately loose monetary policy and enhanced counter-cyclical and cross-cyclical adjustments was emphasized [1] - The dual function of monetary policy tools, both in terms of quantity and structure, should be better leveraged to promote stable economic growth and reasonable price recovery [1] - Coordination between monetary and fiscal policies is crucial for achieving these objectives [1]