China Politburo reaffirms to cut RRR and interest rates in a timely manner

• To maintain abundant liquidity and strengthen support for the real economy
• Will create structural monetary policy tolls and new policy-based instruments to expand consumption
• Will focus on stabilising employment, market expectations
• Necessary to increase income of low and middle-income groups
• Will accelerate the integration of domestic and foreign trade
• Necessary to continuously improve policy toolbox to stabilise employment, economy
• Will implement established policies early
• To introduce reserve policies in a timely manner according to changes in the situation
• Will continue to make efforts to prevent and resolve risks in key areas
• Will speed up to implement more proactive, effective macro policies

This is the usual volley of remarks from Beijing, so it’s nothing new really. But in a time like this, it can be read that they are continuing to keep their focus on improving their domestic situation amid hunkering down. As a reminder though, China’s top legislature will be meeting on 27-30 April next and that might offer up more interesting comments on the economy.

This article was written by Justin Low at www.forexlive.com.