The central bank held the monetary policy regular meeting for the second quarter of 2026, emphasizing the continued implementation of a moderately loose monetary policy

According to news from the People's Bank of China on July 8, the central bank's Monetary Policy Committee held its 113th regular meeting for the second quarter of 2026 on July 4. The meeting pointed out that since the beginning of this year, monetary policy has remained moderately accommodative, the cost of social financing is at a historically low level, and the supply and demand in the foreign exchange market are basically balanced. In the face of the current complex and changing external environment, as well as domestic challenges such as strong supply and weak demand and structural differentiation, the overall operation of our economy is stable and moving towards improvement.

The meeting emphasized that in the next stage, it will continue to implement a moderately accommodative monetary policy, increase counter-cyclical and cross-cyclical adjustments, strengthen the coordination of monetary and fiscal policies, and promote stable economic growth and a reasonable rebound in prices. At the same time, the meeting clearly stated the need to maintain ample liquidity and promote the low-level operation of comprehensive social financing costs; assess the operation of the bond market from a macro-prudential perspective, and pay attention to changes in long-term yields; maintain basic stability of the RMB exchange rate at a reasonable and balanced level. In addition, the central bank will continue to optimize various structural monetary policy tools, solidly implement the "five major tasks" of finance, and increase financial support for key areas such as expanding domestic demand, technological innovation, small and micro enterprises, and the private economy.