According to PANews, the Monetary Policy Implementation Report for the Second Quarter of 2024 released by the People's Bank of China pointed out that the U.S. inflation rate has dropped significantly, the economy and labor market have changed, and the Federal Reserve's monetary policy is facing a shift.
Recently, the US employment data was lower than expected, and the market's expectations for the Fed to cut interest rates have increased. In June, the US CPI rose 3% year-on-year, the lowest level in 12 months. In July, the number of new non-farm jobs was 114,000, which was lower than expected, and the unemployment rate rose.
The shift in monetary policy in major developed economies has spillover effects on emerging market economies, and improved global liquidity will help ease external pressure on emerging market economies. China will continue to adhere to its self-centered monetary policy, closely monitor the trends of major developed economies, and ensure the stability of domestic financial markets and high-quality economic development.
