China's central bank chief set to hold press conference days after Fed rate cut

Published On Sep 23, 2024, 8:29 PM

The Governor of the People's Bank of China, Pan Gongsheng, will hold a rare press conference alongside other financial regulators shortly after the U.S. Federal Reserve's recent interest rate cut. This conference is significant given the current deflationary pressures in China, and market speculations suggest the PBOC might consider cutting its rates to stimulate growth. Although no main interest rate changes were announced after the Fed's cut, the PBOC recently lowered a short-term rate, indicating a potential shift in monetary policy. China's economic growth is stalling, prompting calls for more stimulus measures, which have been slow and incremental. The press conference is expected to clarify future monetary policy directions.