The PBOC Monetary Policy Committee met on Sept. 19 (Q3 2026) and recommended leveraging the combined effects of incremental and stock policy measures, and enhancing the policy’s forward-looking orientation, flexibility and targeting. It called for ca

2026-09-24

The PBOC Monetary Policy Committee met on Sept. 19 (Q3 2026) and recommended leveraging the combined effects of incremental and stock policy measures, and enhancing the policy’s forward-looking orientation, flexibility and targeting. It called for calibrating the strength, pace and timing of measures based on domestic and external economic and financial conditions and market functioning; comprehensively using and adjusting monetary tools as needed to keep liquidity ample; aligning growth in social financing and money supply with economic growth and price-level expectations; and advancing reforms to the monetary policy operating framework.