The People’s Bank of China (PBOC) issued the first quarter monetary policy implementation report on Monday. Following are the highlights of the report.
Prudent monetary policy will be precise and forceful.
Will keep liquidity reasonably ample.
Will prevent transmission of risks from abroad to China.
Will keep interest rates reasonable and appropriate.
Will keep Yuan exchange rate basically stable.
Will support rigid, improved housing demand.
Will continue stabilise land price, home price, expectations.
Will fend off systemic financial risks.
Will let policy financing tools play their roles, step up the guidance of govt investment and policy incentives, drive up private investment effectively.
China's economic growth will likely see marked growth in Q2 due to low base effect.
Will monitor marginal changes of goods prices, guide and stabilize social expectations and keep prices basically stable.
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