PBOC Signals No Urgency for Rate Cuts Despite Poor Economic News

China’s central bank indicated it’s holding back from aggressively easing monetary policy with moves such as interest-rate cuts, even though the economy just recorded its worst month so far this year.

The People’s Bank of China pledged to “thoroughly” enact its “moderately loose” monetary policy while highlighting targeted support to the economy. The remarks in a quarterly report published late Friday followed shortly after disappointing statistics offered evidence of weakening domestic demand.