On April 25th, the Central Political Bureau meeting explicitly proposed to “timely introduce incremental reserve policies based on changes in the situation and strengthen unconventional countercyclical adjustments”. The continued use of the phrase ‘timely reserve requirement ratio and interest rate cuts’ in mentioning monetary policy indicates that reserve requirement ratio and interest rate cuts should be made’ on camera decisions’ and will not exhaust the bullets of monetary policy in one go. At the same time, the creation of new structural monetary policy tools, the establishment of new policy oriented financial instruments, and support for technological innovation have received high attention from the market. According to reporters, relevant policy measures are being formulated intensively. (CCTV News)
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