February 2, 2023

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China’s central bank says it should support growth, sees inflation moderate in 2023 by Reuters

©Reuters. FILE PHOTO: People walk along Nanjing Pedestrian Road, a main shopping district, in Shanghai, China, May 5, 2021. REUTERS/Aly Song

BEIJING (Reuters) – China’s central bank will focus on supporting the slowing economy, People’s Bank of China Governor Yi Gang said on Friday, adding that domestic consumer inflation is likely to remain moderate in 2023 .

The central bank’s accommodative policy will help support China’s economic recovery and jobs, Yi said in a video address at the Bank of Thailand-BIS conference in Bangkok.

“Our focus right now is on growth,” Yi said, adding that China’s economic growth has been slower than expected due to the impact of the COVID-19 pandemic and other headwinds.

Yi said advanced and emerging economies should improve policy cooperation to meet global economic challenges.