The central bank: It is recommended to increase the intensity of monetary policy regulation and improve the forward-looking, targeted and effective monetary policy regulation

The Monetary Policy Committee of the People's Bank of China held a regular meeting in the fourth quarter of 2024. The meeting studied the main ideas of monetary policy in the next stage. It is recommended to increase the intensity of monetary policy regulation and control, improve the forward-looking, targeted and effective monetary policy regulation and control. According to the economic and financial situation at home and abroad and the operation of financial marekt, choose the opportunity to cut the reserve ratio and cut interest rates. Maintain abundant liquidity, guide the Financial Institution Group to increase the intensity of money and credit, so that the scale of social financing and the growth of money supply match the expected targets of economic growth and overall price level. Strengthen the guidance of the central bank's policy interest rate, improve the transmission mechanism for the formation of market-oriented interest rates, give play to the role of the self-discipline mechanism of market interest rate pricing, strengthen the implementation of interest rate policy, and promote the stable and declining cost of corporate financing and Unblock the transmission mechanism of monetary policy, improve the efficiency of capital use, and prevent idling of funds. Enhance the resilience of the foreign exchange market, stabilize market expectations, strengthen market management, resolutely deal with acts that disrupt market order, resolutely prevent the formation of unilateral consensus expectations and self-realization, resolutely prevent the risk of exchange rate overshoot, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.