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PBOC Signals Stimulus to Prioritize Credit Growth Over Rates

  • Real interest rate is low, Yi says in rare English interview
  • Comments suggest there’s less room for significant rate cuts
Customers queue to pay for their purchases at a food store in Shanghai. 

Customers queue to pay for their purchases at a food store in Shanghai. 

Photographer: Qilai Shen/Bloomberg
Bloomberg News
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The People’s Bank of China pledged to keep monetary policy supportive to aid the economy’s recovery, while signaling that stimulus would likely focus on boosting credit rather than lowering interest rates.