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- No intent to tighten or relax monetary policy - China central bank
No intent to tighten or relax monetary policy - China central bank
China's central bank has no intent to tighten or relax monetary policy, a vice governor said on Thursday, as the market debates how much more support Beijing will give the economy after surprisingly resilient data was released last week.
The People's Bank of China's use of reverse repos or a medium-term lending facility (MLF) does not signal that it has a loosening bias, Vice-Governor Liu Guoqiang told.
On the contrary, said Liu, if the central bank has not conducted reverse repos for a few days, it does not mean monetary policy is about to tighten. Those tools are designed to adjust short-term liquidity, he added.
Financial market views over China's policy outlook have shifted markedly since the release of better-than-expected first-quarter GDP and March economic data, which suggested the economy may be starting to steady after a flurry of earlier growth-boosting measures.
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