PBoC hints at tilt to easier policy as growth slows
Third-quarter monetary policy report tweaked phrases, downplaying opposition to easy policy
The People’s Bank of China hinted at a shift towards pro-growth monetary policy, as it fine-tuned the wording used in its latest monetary policy report.
Unlike the previous editions, the third-quarter report avoids wording such as “control the valve on money supply” as well as “firmly resist flood-like monetary policy”.
The PBoC and high-ranking officials in the Chinese government use the phrase “flood-like” frequently to allude to extremely easy monetary policies and large-scale stimulus
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