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Thursday, China reaffirmed its monetary policy stance saying that it will continue its loose monetary policy stance this year. The People's Bank of China Governor Zhou Xiaochuan reportedly said the central bank would be more flexible in implementing policies.
In a speech in Beijing, Zhou urged banks to lend more to key sectors of the economy, the CCTV reported.
As fears of asset bubbles poses risks for the country's recovery, Chinese policymakers have started tightening in some areas. On January 19, the central raised the yield on its benchmark one-year bills for the second straight week. Last week, the PBoC ordered a boost in the yuan reserve requirement ratio for banks by 50 basis points. These measures have raised concerns in markets about a monetary tightening in China.
But, policymakers have repeatedly said that they will continue loose monetary policy this year.
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