The Strengthening Effect Of Macro Policies Appears

Since August, a package of fiscal, monetary, industrial, real estate, and other policies have been intensively implemented, and countercyclical adjustments have continued to be increased. From a macro level, the positive policy effects were reflected in economic data, financial data, and some high-frequency indicators. From the perspective of the micro level, these policies generally benefit a wide range of people and can produce direct results. They respond to market demands and stabilize the expectations of relevant subjects. In the next stage, macroeconomic policies still have space and necessity to be improved and further advanced. In terms of monetary policy, analysts believe that after successive interest rate cuts and reserve requirement ratio cuts, monetary policy has been utilized properly, but there is still room for further development. Fiscal policy is expected to play a more important role.