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People's Bank of China Deputy Governor says Bank has ample policy tools
People's Bank of China Deputy Governor Liu: • Needs time for China's economy to return to normal after pandemic. • China has not seen deflation, no deflationary risks in H2. • CPI could go lower in July, rebound in August. • Bank has ample policy tools, will step up counter-cyclical adjustments. • Will keep credit growth appropriate, will step up support for key sectors. • PBOC will deepen interest rate reforms. • Will guide banks to increase lending to small firms, to private firms.
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*LIU: OVER 70% OF 740B YUAN IN POLICY BANK FINANCING TOOLS USED
— Cable FX Macro (@cablefxmacro) July 14, 2023
*CHINA CPI LIKELY TO TREND CLOSER TO 1% AT YEAR-END: LIU
*PBOC'S LIU: WILL PUSH REAL ECONOMY BORROWING FIN. COSTS LOWER
*CHINA'S MORTGAGE LOAN NPL HAS BEEN BELOW 1.5%: PBOC'S ZOU
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*LIU: CAN'T MANIPULATE FX RATES, AS THAT IS COUNTERPRODUCTIVE
— Cable FX Macro (@cablefxmacro) July 14, 2023
*LIU: FX RATES COULD GO UP OR DOWN IN SHORT-TERM
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PBOC'S LIU: THE EXISTING FX BASKET POLICY HAS PROVEN TO BE EFFECTIVE.
— Breaking Market News (@financialjuice) July 14, 2023