The PBOC, in its Q2 2026 monetary policy implementation report, said it will
continue a moderately loose monetary policy and steadily, orderly reform the
operating framework to better anchor short-term money-market rates around the
policy rate. It will lean on market-based pricing discipline, strengthen
interest-rate policy execution and supervision, promote diversification of
loan-pricing benchmarks and guide banks to improve rate-pricing capabilities.
The bank will continue pushing explicit disclosure of corporate loan
comprehensive financing costs, reduce intermediation fees and support low
overall social financing costs.
