AVN 66.65 Decreased By ▼ -1.33 (-1.96%)
BOP 9.75 Decreased By ▼ -0.13 (-1.32%)
CHCC 129.95 Decreased By ▼ -3.55 (-2.66%)
DCL 11.20 Decreased By ▼ -0.35 (-3.03%)
DGKC 112.84 Decreased By ▼ -1.51 (-1.32%)
EFERT 60.75 Increased By ▲ 0.65 (1.08%)
EPCL 43.75 Decreased By ▼ -0.25 (-0.57%)
FCCL 21.05 Increased By ▲ 0.15 (0.72%)
FFL 17.45 Decreased By ▼ -0.20 (-1.13%)
HASCOL 20.96 Decreased By ▼ -0.21 (-0.99%)
HBL 131.75 Decreased By ▼ -1.25 (-0.94%)
HUBC 80.22 Decreased By ▼ -1.33 (-1.63%)
HUMNL 8.11 Decreased By ▼ -0.10 (-1.22%)
JSCL 30.70 Increased By ▲ 0.79 (2.64%)
KAPCO 26.49 Decreased By ▼ -0.41 (-1.52%)
KEL 4.16 Increased By ▲ 0.03 (0.73%)
LOTCHEM 12.50 Decreased By ▼ -0.40 (-3.1%)
MLCF 39.66 Decreased By ▼ -0.51 (-1.27%)
OGDC 104.33 Decreased By ▼ -3.92 (-3.62%)
PAEL 36.95 Decreased By ▼ -1.15 (-3.02%)
PIBTL 13.25 Decreased By ▼ -0.37 (-2.72%)
PIOC 98.50 Decreased By ▼ -0.50 (-0.51%)
POWER 9.38 Increased By ▲ 0.14 (1.52%)
PPL 93.11 Decreased By ▼ -2.17 (-2.28%)
PSO 201.50 Decreased By ▼ -0.50 (-0.25%)
SNGP 63.81 Decreased By ▼ -1.59 (-2.43%)
STPL 13.90 Decreased By ▼ -0.41 (-2.87%)
TRG 54.60 Decreased By ▼ -1.95 (-3.45%)
UNITY 18.10 Increased By ▲ 0.49 (2.78%)
WTL 1.19 Decreased By ▼ -0.03 (-2.46%)
BR100 4,346 Decreased By ▼ -8.53 (-0.2%)
BR30 22,083 Decreased By ▼ -141.56 (-0.64%)
KSE100 41,806 Decreased By ▼ -69.89 (-0.17%)
KSE30 17,659 Decreased By ▼ -15.57 (-0.09%)
COVID-19 TOTAL DAILY
CASES 308,217 799
DEATHS 6,437 5
Business

China central bank adviser says no need to step up monetary easing

  • China's economy could grow more than 4pc in the third quarter and over 6pc in the fourth quarter, bringing the 2020, growth to around 2pc, Ma was quoted by Sina Finance as saying.
05 Aug 2020

BEIJING: The People's Bank of China does not need to step up its policy easing as an economic recovery is well under way and further stimulus could stoke property and stock bubbles, central bank policy adviser Ma Jun said in remarks published on Wednesday.

China's economy could grow more than 4pc in the third quarter and over 6pc in the fourth quarter, bringing the 2020, growth to around 2pc, Ma was quoted by Sina Finance as saying.

"At present, the strength of counter-cyclical adjustment of monetary policy is not small. We should maintain the current strength, and there is no need to step up," Ma said.

"If we boost stimulus, there could be some negative consequences, such as real estate and stock market bubbles."

The central bank should reserve some ammunition to cope with impacts from rising tensions with the United States and possible financial risks, Ma said.

A stronger-than-expected rebound in activity in the second quarter has reduced the urgency for the PBOC to ease policy further, but will keep conditions accommodative to support the recovery, sources have told Reuters.

The PBOC has rolled out a raft of steps since February, including cuts in lending rates, banks' reserve requirement ratios (RRR) and targeted support for virus-hit companies such as cheap loans.