On the 27th, the reporter learned that the Monetary Policy Committee of the People's Bank of China recently held a regular meeting for the third quarter of 2023 and said that it will continue to make efforts to take advantage of the trend and strengthen control over macroeconomic policy. . Among them, the implementation of the already introduced monetary policy will be strengthened to maintain reasonable and stable credit growth. Industry experts said the meeting signaled that monetary policy would step up efforts to stabilize growth.
The meeting noted that the current external environment is becoming increasingly complex and harsh, international economic trade and investment is slowing, inflation remains high, and interest rates in developed countries will continue to remain high. The national economy continues to recover, gaining momentum and momentum, but it still faces challenges such as insufficient demand.
“From the point of view of assessing the situation, this regular meeting is more optimistic than the decision of the regular meeting in the second quarter. Behind this is the recovery in macroeconomic supply and demand data in July and especially in August, and the momentum for economic recovery is getting stronger.” Oriental Jincheng chief macro analyst Wang Qing said the meeting continued to emphasize that it "still faces challenges such as insufficient demand," which is essentially the same judgment as the regular meeting in the second quarter. This means that although recent monetary policy has made every effort to stabilize growth, in terms of further strengthening the pace of economic growth and effectively stabilizing the overall employment situation, the current intensity of growth stabilization policy will not slow down.
The meeting stated that we should continue to make efforts and take advantage of this momentum, strengthen macro policy control, accurately and effectively implement sound monetary policy, work well on counter-cyclical and inter-cyclical adjustments, make better use of the dual functions of the total volume and structure of monetary instruments. credit policy and focus on expanding domestic demand, increasing confidence, accelerating the favorable economic cycle and providing stronger support for the real economy.
