The People's Bank of China stated that it will protect the economy from the threat of inflation to rise, and insist on not engaged in "big water" and not exceeding currency.
According to Bloomberg, the central bank of China said in the second quarter monetary policy report released on Wednesday (August 10) that it is necessary to take into account the balance of steady growth, employment, and prices.At the same time, the People's Bank of China has also strengthened its support for the real economy, maintaining a reasonable growth in currency supply and social financing scale, and strive to achieve the best results throughout the year.
The Bank of China said: "In the short term . "
On the day of the issuance of the People's Bank of my country, official data showed that the increase in prices in July increased to a two -year high of 2.7%, mainly because food inflation rose under the driving of pork prices.However, weak consumer demand has suppressed the overall price pressure.
The Bank of China predicts that the Chinese CPI operation center in the second half of this year has increased from 1.7%in the first half of the year, and some monthly increases may exceed 3%.As a measure of response, the People's Bank of China stated that it is necessary to continuously consolidate the favorable conditions of China's domestic food stable production and the stable operation of the energy market, and to continue to maintain a reasonable liquidity. China is expected to achieve the expected target of about 3 % of the annual CPI increase of about 3 %.
It is reported that economists said that although the warning of the People's Bank of China did not suggest that monetary policy would be tightened, there was not much room for space in the next few months.Goldman Sachs said that the report focuses on the recent inflation pressure and actual policies that show that the People's Bank of China may continue its stable and loose monetary policy.
Goldman Sachs Economist said that the central bank of China may maintain its overall deposit reserve ratio and policy interest rates, and supplemented that the Central Bank of China will turn to orientation such as re -loan, or rely on policy banksLet's boost the growth of loans and support for credit.
Shen Wanhongyuan's chief macro analyst Qin Tai pointed out in a report that the above report proposes "no currency", suggestingThe significant decline is expected to reduce interest rates again during the year.
The People's Bank of China said on Wednesday that the global integration such as the global integration that has played an important role in the world's global inflation in the past two decades has reversed, and the recovery of domestic consumption demand in China may accelerate PPI's lag to CPI.In addition, the opening of a new round of "pig cycle" and China's high dependence on imported energy imports of oil and gas also brought challenges.
The People's Bank of China said that the pressure of high inflation in Europe and the United States also brought inspiration and reference to China's macro -control.Maintaining the stable currency is the primary responsibility of the central bank. Maintaining the stability of inflation is the meaning of the stability of the macro market.
Policy easing has also become complicated due to the raising interest rates in the United States and other places.The People's Bank of China pays attention to other countries to tighten the monetary policy, saying that the policy interest rates have remained unchanged since the second quarter, which will help to balance the internal and external equilibrium in the background of major central banks in the world.
The People's Bank of China also hinted that its credit growth goals will be more flexible.It said that it will maintain a "reasonable growth" of currency supply and social financing scale. The previous position was that credit growth anchor nominal GDP growth.It also did not mention the consistent commitment of maintaining the ratio of debt to GDP, and promised to increase credit support for enterprises.
Guangfa Securities analysts wrote in a report that under the constraints of factors such as stability, non -pre -expending futures, credit growth "may be difficult to reach a large rebound in 2020."The People's Bank of China mentioned two new credit lines of policy banks twice, which directly reflects the importance of the central bank's support for infrastructure project financing.
In the report column, the People's Bank of China emphasized that the credit structure has changed in recent years, the proportion of inclusive small and micro loans has increased, and the proportion of real estate loans has declined.
The Bank of China said that with the transition period of economic experience and the slowdown in the real estate industry, the growth of credit growth may slow down, but it is added that new capacity such as green investment can be to a certain extent as a certain extent.Credit growth provides support, and the quality and adaptability of finance's support for the new growth point of the real economy will steadily improve.
