China’s Central Bank Vows ‘Appropriate’ Rates In Lesson From SVB
- PBOC sees no base for long-term disinflation, officials say
- Central bank hasn’t taken steps toward major stimulus in 2023
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The People’s Bank of China pledged to make sure interest rates are appropriate and that credit remains stable, as it draws lessons from the Silicon Valley Bank crisis.
“We need to pay serious attention to interest rate risks,” said Zou Lan, head of the monetary policy department. The PBOC will “maintain reasonable growth in credit and money, and make sure interest rate levels are appropriate,” he added.