China Central Bank Governor Reiterates Stable Policy Stance

China’s central bank will keep monetary policy targeted and ensure credit growth is stable, Governor Yi Gang said, keeping the policy stance largely unchanged despite rising calls for more stimulus.

Speaking to businesses and banks in Shanghai, Yi said he has confidence the official growth target of around 5% can be achieved this year. Inflation is expected to gradually rebound in the second half of the year, he added. The speech was earlier this week and posted on the People’s Bank of China’s website on Friday.