China's central bank pledges to maintain accommodative policy amid weak demand, external shocks

The People's Bank of China (PBOC) stated that the economy faces a structural mismatch between strong supply and weak demand, along with external shocks. The central bank committed to maintaining an appropriately loose monetary policy and increasing financial support to boost domestic consumption. It also pledged to strengthen guidance on policy interest rates, drive a reasonable rebound in prices, and keep the yuan stable.