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9/28, 11:25 AM (Source: TeleTrader)
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China to stretch time for normal monetary policy

People's Bank of China (PBoC) Governor Yi Gang (pictured) stated on Tuesday that the country will stretch the time for normal monetary policy implementation, as it takes a more cautious stance with the pandemic recovery.

Moreover, Yi added that that the PBoC has the conditions to keep the yield curve normal, as he commented that at the moment there is no need to purchase assets.

Previously, the PBoC decided to hold the current interest rates in September, marking over a year of unchanging interest rates following a cut in March of 2020, and said it will invest more than $45 billion in an effort to boost small businesses.

Breaking the News / OL