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- PBOC to boost credit support for economic growth – MNI
PBOC to boost credit support for economic growth – MNI
The People's Bank of China (PBOC) will guide commercial banks to further increase credit support and lower borrowing costs of the real economy amid dwindling recovery, MNI reports on Wednesday, citing the central bank’s officials.
Additional takeaways
The PBOC will facilitate lenders to reduce the real loan rates via lowering their deposit costs by liberalizing the deposit interest rate system.
Meanwhile, it will help expand credit by using structural monetary tools and pushing policy banks to support big and key infrastructure projects, said Zou
The central bank will keep liquidity at a reasonable and ample level.
Credit conditions will further improve in the second half as the central bank remains accommodative at a flexible pace, pointing out that China's leverage ratio is expected to rise temperately due to counter-cyclical measures which would push up debt while the economic recovery is comparatively slow.
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