Reiterating its stance on prudent monetary policy, Sun Guofeng, head of the People’s Bank of China’s (PBOC) monetary policy department, said that the policy is expected to be flexible, targeted, reasonable and appropriate.
Additional quotes
Expect macro leverage ratio to be stable in Q2.
Will provide appropriate monetary environment in H2.
Expect social financing will grow steadily in H2, growth in line with nominal GDP growth.
Will control policy intensity and pace based on domestic economy and inflation.
China price level is basically under control.
PPI rising quickly on base effects, commodity prices.
Rise in PPI is transitory, external influences to fall.
Policy to remain prudent when asked on RRR.
China's PPI to moderate in Q4 and 2022.
Market reaction
AUD/USD was last seen trading at 0.7492, adding 0.23% on the day.
