Inflation & Prices
PBOC Vows to Stimulate Consumer Prices Amid Deflation Fears
- Central bank highlights support to techology, green sectors
- It also pledges to expand domestic demand, boost confidence
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China’s central bank vowed to step up existing monetary policy and stimulate consumer prices, which last month continued their slide, falling at the steepest pace in three years.
The People’s Bank of China vowed to implement a prudent monetary policy in targeted and effective manner and reaffirmed its pledge to push consumer prices higher, according to a statement Thursday following the bank’s quarterly monetary policy committee meeting.