PBOC’s Yi: PBOC to continue to strengthen counter-cyclical adjustment, increase credit support

While speaking at a meeting on Tuesday, the People’s Bank of China (PBOC) Governor Yi Gang made the following comments, as cited by Reuters.

The PBOC will continue to strengthen counter-cyclical adjustment and increase credit support to the real economy as it seeks to stabilize economic growth.

The central bank would also guide real lending interest rates lower and promote the replenishment of bank capital.

Earlier today, the PBOC cut the one-year Loan Prime Rate (LPR) 5 bps to 4.15% while lowering the five-year LPR to 4.80% from the previous 4.85%.