Views: 9 Author: Site Editor Publish Time: 2019-09-27 Origin: Site
China will avoid using major monetary stimulus to counter downside pressure as some other economies have, Yi Gang, governor of the People's Bank of China, said on Tuesday.
"China's monetary policy should stay committed to its own course and stick with a prudent stance," Yi said, citing the country's economic expansion remaining within a reasonable range and a mild level of inflation as well as the need to keep debt levels stable and sustainable.
There is rather large space in monetary policy to counter downside risks, as the interest rate level is "proper" and the level of required reserve ratios has ample room for adjustment, Yi said at a news briefing on Tuesday.
Yet the country is "not in a rush to roll out massive interest rate cuts and quantitative easing as some other central banks did", Yi said.
The PBOC, the central bank, will mainly refer to domestic factors, instead of external ones, in determining monetary policy, according to Yi.