monetary policy committee of the people's bank of china: strengthening the guiding role of the central bank's policy interest rate
2024-09-30
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
china news service, beijing, september 29 (reporter xia bin) the people's bank of china announced on the 29th that its monetary policy committee's 2024 third quarter regular meeting was recently held in beijing. the meeting believed that it is necessary to improve the formation and transmission mechanism of market-oriented interest rates, strengthen the guiding role of the central bank's policy interest rates, give full play to the role of the self-discipline mechanism for market interest rate pricing and the effectiveness of the market-based adjustment mechanism for deposit interest rates, and promote the stabilization and decline of corporate financing and residents' credit costs.
the meeting stated that it is necessary to enrich the monetary policy toolbox, conduct government bond trading, and pay attention to changes in long-term yields. smooth the monetary policy transmission mechanism and improve the efficiency of fund use. strengthen the guidance of expectations, enhance exchange rate flexibility, maintain the basic stability of the rmb exchange rate at a reasonable and balanced level, prevent the formation of unilateral consistent expectations and self-reinforcement, and guard against the risk of exchange rate overshooting.
the meeting also mentioned that it is necessary to effectively implement various existing structural monetary policy tools, promote the implementation of new instruments such as securities, funds, insurance company swap facilities and stock repurchases, holdings, and re-lending, and maintain the stability of the capital market; promote scientific and technological innovation and technological transformation will be re-loaned, and financial support for large-scale equipment updates and trade-in of consumer goods will be increased.
in addition, it is necessary to fully understand the new changes in the supply and demand relationship in the real estate market, comply with the people's new expectations for high-quality housing, strive to promote the implementation of financial policies and measures that have been introduced, support the revitalization of idle land, reduce existing mortgage interest rates, and promote the stable and healthy development of the real estate market. increase financial support for the "market + guarantee" housing supply system and promote the acceleration of the construction of a new model of real estate development. implement financial policies and measures to promote the healthy development of the platform economy. effectively promote high-level two-way opening up of finance and improve economic and financial management capabilities and risk prevention and control capabilities under opening conditions. (over)
