China Securities Daily: Monetary policy reserves are sufficient, and we must act when it is time to act

On April 16, the article said that, in general, monetary policy continued to be supportive, reflecting the "moderately loose" orientation. Of course, the market expects a more representative monetary easing move, especially after the excessive imposition of tariffs by the United States has added new variables to the economic and trade operation and economic development. The reason why monetary policy maintains restraint may be due to the consideration of avoiding overdraft policy space, coordinating risk prevention and promoting reform, and balancing internal and external equilibrium. The complex internal and external environment not only requires timely counter-cyclical adjustment of macro policies, but also puts forward higher requirements for grasping the timeliness of policy. At present, our country's monetary policy is at a key node of "attack and defense". It is necessary to maintain strategic resolve to avoid overdraft space, but also to show policy sharpness when external "black swan" events shock. Our country's policy toolbox is full of ammunition - when the economic operation encounters a real shock, employment pressure increases significantly or irrational fluctuations in financial marekts, the central bank will definitely take decisive action. This ability to "dare to take action when it is time to take action, and take good action" is the confidence of China's economy to withstand the wind and waves.