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PBOC vows to curb 'involution-style' competition in China's financial ...
Investing.com -- China's central bank is moving to tighten discipline across the nation's financial landscape, explicitly calling out "involution-style", or excessively distorted competition ...
PBoC: Steepening bias as industrial activity holds - DBS
DBS Group Research economist Samuel Tse analyses recent steepening in Chinese Yuan (CNY) rates, linking it to a ceasefire between the United States (US) and Iran and stronger-than-expected Q1 growth in China. He highlights resilient Purchasing Managers' Index (PMI), firm industrial and external activity, robust onshore bond demand and continued offshore inflows, arguing this backdrop supports a stable front end and an accommodative but measured People's Bank of China (PBoC) stance.Steepening curve on solid macro backdrop"The CNY curve has steepened in the past week, driven by a ceasefire between the US and Iran and a stronger-than-expected macro starting point in Q1. China’s economy grew 5% YoY in Q1, supported by resilient external demand and a continued rebound in industrial activity.""First, we expect PMI to remain resilient 50.3 in April, supported by improving high-frequency indicators. Industrial activity continues to pick up, with cement clinker and electric furnace utilisation rising by 2.4ppt and 1.0ppt, respectively, alongside higher operating rates at major steel mills. Importantly, the impact of the oil shock remains largely contained within energy-related sectors.""Operating rates at petroleum asphalt plants have declined, while PTA load rates fell from 89.4% in March to 75.7% in April mtd. However, broader industrial activity has yet to show meaningful spillover, suggesting limited transmission beyond oil-linked industries at this stage.""In addition, onshore bond demand remains robust. Northbound Bond Connect turnover reached a record CNY1.22tn in March, with average daily volumes rising to CNY55.6bn, both all-time highs. EPFR data show China bond funds recorded USD1.6bn of inflows in the first week of April, pointing to continued offshore demand.""Taken together, growth momentum remains stable but uneven, reinforcing expectations of a measured policy stance. The PBOC is likely to maintain an accommodative bias via liquidity operations, while refraining from aggressive rate cuts."(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Monetary policy news and analysis articles - Central Banking
Monetary policy decisions PBoC leaves loan prime rates unchanged for eleventh month Widely expected move comes after Pan reiterates 'moderately loose' policy stance 21 Apr 2026 Fintech Global AI imbalances expected to hit emerging markets hardest IMF's Bo Li and Anthropic's economics head discuss social protection on panel 20 Apr 2026 ...
PBOC pledges more monetary policy support - Chinadaily.com.cn
China's central bank confirmed on Monday the continuation of its supportive monetary policy stance, a move that analysts said has reinforced expectations of another cut in the reserve requirement ratio to accommodate additional government bond issuance.
