PBoC will not engage in monetary financing, Guo says

Senior central bank official says China will not monetise deficits or use negative interest rates

Guo Shuqing
Guo Shuqing

China’s central bank will not monetise fiscal deficits or adopt negative interest rates to respond to the coronavirus pandemic, according to Guo Shuqing, who serves as the institution’s senior Communist Party official.

China will not flood the market with liquidity or use monetary financing to respond to the coronavirus pandemic, Guo told a forum in Shanghai via a video link on June 18.

Guo is deputy governor of the People’s Bank of China and is the secretary of the PBoC’s Communist Party

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