Chinese Central Bank To Continue Appropriately Loose Monetary Policy

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Thursday, the People's Bank of China reiterated that it will continue an "appropriately loose" monetary policy. The central bank also said that it will gradually guide monetary conditions back to a normal situation.

China's economy is expected to maintain stable and rapid growth, the central bank said in its latest quarterly Monetary Policy Report.

Earlier in the day, the PBoC said Chinese banks extended CNY 1.39 trillion in new local-currency loans in January, up from CNY 379.80 billion in December. Household loans were worth CNY 450.20 billion while non-financial companies and other sector loans amounted to CNY 941.50 billion.

Thursday, the People's Bank of China said it will continue an "appropriately loose" monetary policy. (Market News Provided by RTTNews)