PBOC’s Sun: Monetary policy to be flexible, targeted, reasonable and appropriate

Reiterating its stance on prudent monetary policy, the People’s Bank of China (PBOC) 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.