PBOC to boost demand, support moderate rebound in prices – official

 

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The PBOC will boost demand and support a modest rebound in prices, reported the Financial News, a publication backed by the central bank, citing an unnamed senior PBOC official.

The PBOC will strengthen its coordination with fiscal and industrial policies and step up the guidance of expectations, while closely monitoring the effects of financial policies, the official said.

The central bank will create an appropriate monetary and financial environment to promote effective demand in the real economy, support a moderate recovery in prices and enhance economic vitality, the official said.

China’s credit growth was also in line with the recovery, as borrowing costs in the real economy declined, the official said.

Reduction in existing mortgage rates will effectively reduce the interest burden on residents and early mortgage repayments have declined, which would help boost consumer confidence, the official said.