<p>The People's Bank of China has released the "Quarter 2, 2024 China Monetary Policy Implementation Report", which mentions important content such as the transformation of monetary policy and prevention of interest rate risks. The tone of the monetary policy report basically continues the previous statements, but there are also some new requirements and wording. The report points out that the current economic downward pressure is significant, and insufficient demand remains the core contradiction, requiring policy support. It is expected that monetary policy will continue to be accommodative throughout the year, with possible operations of reserve requirement ratio cuts and interest rate reductions</p>

- The report by the People's Bank of China on the 2024 Q2 monetary policy emphasizes concerns over the global and domestic economy, focusing on maintaining a balanced monetary policy, preventing rate risks, stabilizing the real estate sector, and monitoring global central bank policies.
- The report signals a continuation of previous policy stances with added emphasis on balancing short-term and long-term goals, exploring effective credit demand, and transitioning the monetary policy framework, likely leading to further easing measures later in the year.
- Key areas highlighted include global economic concerns, inflation dynamics, structural reforms in monetary policy tools, and a cautious approach towards potential rate cuts influenced by external factors like the US Federal Reserve's decisions.

Many new proposals - 6 key signals from the People's Bank of China's second quarter monetary policy report