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recently, the people's bank of china has repeatedly released signals for the next monetary policy, clearly stating that it will "adhere to a supportive monetary policy stance" and "start to launch some incremental policy measures". at the same time, as the fed's interest rate cuts have pressed the "confirm button", the start of the global interest rate cut trend has further broadened the autonomous space for my country's monetary policy. many experts interviewed believe that in the fourth quarter, the central bank will introduce more incremental policies, and there is room and possibility for lowering the reserve requirement ratio, lowering interest rates, and adjusting the interest rates of existing mortgage loans.

the latest financial statistics show that the growth rate of m2 balance has been relatively stable recently. in august, the growth rate of social financing scale and rmb loan balances were both above 8%, about 4 percentage points higher than the nominal gdp growth rate in the first half of the year, and the total amount of finance grew reasonably. however, the current effective financing demand of the real economy is still weak, and macroeconomic policies still need to continue to work hard and be more powerful.

the head of the relevant department of the central bank said that they will increase the intensity of regulation, speed up the implementation of the financial policy measures that have been issued, and start to introduce some incremental policy measures to further reduce the financing costs of enterprises and the credit costs of residents.

this is not the first time that the central bank has expressed its views on incremental policies. industry insiders generally believe that in the next step, the central bank may support the expansion of domestic demand and promote a moderate recovery in prices through methods such as lowering the reserve requirement ratio and interest rates and structural monetary policies.