Central Bank Liu Guoqiang: Macro leverage ratio has fallen for five consecutive quarters, creating room for future monetary policy – ​​yqqlm

my country’s macro leverage ratio will be 272.5% in 2021, 7.7 percentage points lower than that at the end of 2020, and the leverage ratio has declined for five consecutive quarters, according to the Securities Times. The current macro leverage ratio continues to decline, creating space for the financial system to increase support for small and micro enterprises, technological innovation, and green development in the future. The decline in macro leverage in five quarters has created room for future monetary policy, and the lower the leverage, the greater the room.

Liu Guoqiang said that it is expected that the macro leverage ratio will remain basically stable in 2022. From an international perspective, my country’s epidemic prevention and control situation is relatively good, and its economic growth is relatively resilient. It is expected that my country’s economic growth rate will still be faster than that of major developed economies this year, creating conditions for better maintaining the macro leverage ratio in the future. The central bank will adhere to systematic thinking, overall planning and coordination, based on serving the high-quality development of the economy, and implement cross-cycle monetary policy. (Wang Junhui)