"The effects of macro-policy "intensification" have been revealed and

Published: Sep 20, 2023 14:19

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"The effects of macro-policy "intensification" have been revealed and the toolbox "follow-up" can sustain the effort. Since August, fiscal, monetary, industrial and real estate policies have been intensively implemented to continuously increase counter-cyclical adjustment. From the macro level, the positive policy effects have been preliminarily confirmed in economic data, financial data and some high-frequency indicators. From the micro-entity perspective, these policies are generally beneficial, can take effect directly, respond to market demands, and stabilize the expectations of relevant entities. In the next stage, macro-policies still have the necessary space and measures to exert force. In terms of monetary policy, analysts believe that after consecutive rate cuts and reserve requirement cuts, monetary policy has been fully utilized, and there is still room for further efforts, and fiscal policy is expected to play a more important role."

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