PBOC Governor Yi: Policy support aims to boost credit than lowering interest rates

In an exclusive interview conducted by China Global Television Network on Monday, People’s Bank of China (PBOC) Governor Yi Gang said that the central bank’s monetary policy support prioritizes boosting credit over cutting interest rates lower, per Bloomberg.

Key quotes

“Will continue to be accommodative to support economic recovery in an aggregate sense.”

 China’s “real interest rate is pretty low” after taking inflation into account, suggesting that there’s limited room for large-scale rate cuts.

more to come ...