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PBOC to prioritize stability in policy, warns about risks of fast-growing household leverage ratio – Q4 monetary policy report

Last updated on February 11, 2021

China’s central bank has reiterated that it will prioritize stability in its monetary policy and avoid making sudden shifts. It warned about risks of the fast-growing leverage ratio in the household sector and said China should not rely on consumer finance to expand consumption.

The prudent monetary policy will be more flexible, precise, reasonable and moderate, and will strike a balance between economic recovery and risk prevention, according to the 2020 fourth-quarter monetary policy . . .

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