The central bank’s voice: the monetary policy toolbox should be opened wider to avoid credit collapse
Chinanews Finance, January 19th. Liu Guoqiang, deputy governor of the People’s Bank of China, said at a press conference of the State Council Information Office on the 18th that the current economy is facing triple pressures, and “stability” itself is the biggest “progress”. Before the downward pressure on the economy is fundamentally relieved, progress must serve stability, not introduce policies that are not conducive to stability, and introduce more policies that are conducive to stability, so as to promote stability.
Liu Guoqiang said that, to put it simply, the current focus is on stability, and the policy requirement is to exert force. How to exert force? From three aspects: First, make sufficient efforts to open the monetary policy toolbox a little bigger, keep the total amount stable, and avoid credit collapse;
The second is to make precise efforts. To be broad and subtle, the financial sector should not only welcome customers, but also take the initiative to take the initiative to find good projects according to the requirements of the new development concept, make effective additions, and optimize the economic structure;
The third is to push forward. Although it is the beginning of the year, the time of the year is very short, and the plan of the year lies in the spring. Therefore, we must hurry up to do things, operate forward-looking, walk in front of the market curve, and respond to the general concerns of the market in a timely manner. When the market’s concerns are lost, they are no longer concerned. If they are not concerned, they are “more grief-stricken than death”, and the latter matters will be difficult to handle. Therefore, we must not delay, but must walk ahead and respond to the general concerns of the market in a timely manner.