The Bank of China promises to continue supporting the recovery with its monetary policy

MADRID, 27 Jun. (EUROPA PRESS) -

The People's Bank of China (PBC) has assured that it will continue to maintain a monetary stance that supports the recovery of the economy, after the impact of the Covid-19 pandemic and the successive restrictions imposed to contain contagion, as well as the impact of external turbulence.

"This year, we face some downward pressure on growth due to Covid-19 and external 'shocks', and monetary policy will remain accommodative to support economic recovery in the aggregate," said the Chinese central bank governor, Yi Gang, in an interview with the state-owned China Global Television Network (CGTN).

In this sense, the Chinese central banker has underlined that the institution's priorities are to maintain price stability and maximize employment, while also pointing out the importance of structural policies, such as support for small and medium-sized companies and the green transition.

In this regard, the governor has defended that China's monetary policy "is accommodative to support the real economy", recalling that it provides ample liquidity and support to small and medium-sized companies with the aim of maximizing employment.

"After taking inflation into account, you can see that the real interest rate is quite low," he said.