The central bank set the monetary policy for the fourth quarter: continue to moderately loose

On the 29th, the People's Bank of China notified the Monetary Policy Committee that the third quarter regular meeting said that China's economic recovery and stabilization trend is still not consolidated, and the pressure of insufficient external demand is still very strong. The next quarter will continue to implement a moderately loose monetary policy to maintain the liquidity of the banking system. Adequate, guiding the reasonable and moderate growth of money and credit.
This regular meeting analyzed the current domestic and international economic and financial situation, and believed that China's response to the international financial crisis has achieved remarkable results. The investment growth rate has continued to accelerate, consumption has grown steadily, and domestic demand has been increasing. At present, the banking system is abundant in liquidity, money and credit are growing rapidly, and the financial system is running smoothly.
However, the meeting pointed out that the situation of China's economic stabilization and recovery is still not consolidated, and the pressure of insufficient external demand is still very large. Further expansion of domestic demand still needs to overcome various constraints. Some industries and enterprises still have difficulties in operation, and the task of structural adjustment is very arduous.
The meeting proposed guidance for the next quarter's monetary policy. It is required to continue to implement a moderately loose monetary policy and maintain the continuity and stability of the policy. Further rationalize the monetary policy transmission mechanism, maintain ample liquidity in the banking system, and guide the reasonable and moderate growth of money and credit.
In order to continue to optimize the credit structure, the meeting called for greater financial support for weak links such as “agriculture, rural areas and farmers” and small and medium-sized enterprises, vigorously develop consumer credit, support the adjustment and revitalization of key industries and the development of emerging strategic industries, and promote independent innovation, mergers and acquisitions, and industries. Transfer and coordinated development of the regional economy. Strictly control corporate loans for industries with high energy consumption, high pollution and overcapacity.
The meeting held that the promotion of steady and rapid economic development should be the primary task of economic work, comprehensively implement and enrich the package of economic stimulus, and consolidate the momentum of economic stabilization and recovery. We should continue to enhance the role of domestic demand, especially consumer consumption, in economic growth, change the mode of development, and accelerate economic restructuring. Strengthen the coordination of monetary policy with finance, industry, trade and financial supervision, and maintain steady and rapid economic development.

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