PBOC's MPC met for its Q2 2026 review and said the external environment has grown more complex: global growth momentum is weak, geopolitical conflicts and trade frictions are frequent, major economies are diverging, and inflation paths and policy adjustments are uncertain. Domestically the economy is broadly stable and shifting toward higher‑quality growth but still faces weak demand versus strong supply, structural divergence, and external shocks. The committee called for continuing a moderatel

PBOC's MPC met for its Q2 2026 review and said the external environment has grown more complex: global growth momentum is weak, geopolitical conflicts and trade frictions are frequent, major economies are diverging, and inflation paths and policy adjustments are uncertain. Domestically the economy is broadly stable and shifting toward higher‑quality growth but still faces weak demand versus strong supply, structural divergence, and external shocks. The committee called for continuing a moderately loose monetary stance, intensifying countercyclical and cross‑cycle adjustments, deploying both aggregate and structural monetary tools, and strengthening monetary‑fiscal coordination to support stable growth and a reasonable rebound in prices.