PBOC pledges more efforts to keep steady credit growth, fuelling expectations for loosening credit condition

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Chinese central bank said in a recent meeting that "more efforts are needed to keep steady credit growth," which, many believe, indicates the authority is concerned about weak credit demand as economic recovery loses momentum and is likely to take actions to loose credit condition.

"As the global Covid-19 pandemic continues to evolve, China's external environment is becoming increasingly severe and complex and the domestic economic recovery is still not solid and uneven," according to a statement released by the People's Bank of China (PBOC) after a Monday meeting about China's economic situation . . .

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