People's Bank of China: Continue to implement a moderately loose monetary policy

The People's Bank of China stated in its monetary policy implementation report for the fourth quarter of 2025 that it will continue to implement a moderately accommodative monetary policy, focusing on promoting stable economic growth and a reasonable rebound in prices. The central bank will flexibly use policy tools such as reserve requirement ratio cuts and interest rate reductions to maintain ample liquidity, ensure relatively loose social financing conditions, improve the interest rate adjustment framework, strengthen policy interest rate guidance, reduce bank liability costs, support financial demand in key areas, and maintain basic stability of the RMB exchange rate at a reasonable and balanced level