China's central bank affirms supportive monetary policy stance at closely watched meeting

Published On Nov 5, 2024, 8:18 PM

China's central bank, the People's Bank of China (PBOC), has reaffirmed its commitment to a supportive monetary policy to bolster the slowing economy. Governor Pan Gongsheng emphasized plans to intensify counter-cyclical policies aimed at addressing immediate economic challenges. This follows recent interest rate cuts aimed at stimulating growth, and comes amid expectations of additional fiscal stimulus measures during ongoing legislative sessions.

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The PBOC's continued supportive stance is likely to maintain liquidity in the market, which may provide a boost to Chinese equities and possibly sectors benefiting from increased government spending. Additionally, international investors may look favorably on Chinese stocks amid adjustments to fiscal and monetary policies that signal a recovery effort.

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