23.09.202500:09:21UTC+00China’s Central Bank Signals Data-Focused Policy to Spur Recovery

China's central bank governor, Pan Gongsheng, announced on Monday the strategic deployment of various monetary policy tools to maintain sufficient liquidity, reduce borrowing costs, and bolster China's economic recovery. Speaking at a press conference, Pan emphasized that the country's monetary policy is largely guided by domestic economic data and conditions, rather than external influences. This statement comes in the wake of the recent interest rate reduction by the U.S. Federal Reserve. "Looking forward, we will fully leverage a wide range of monetary policy instruments tailored to our macroeconomic landscape and evolving circumstances," Pan stated, according to a Reuters report. Consistent with market expectations, China maintained its benchmark lending rates unchanged for the fourth successive month as of September 22, following the central bank's earlier decision to keep its primary policy rate constant.