Chinese central bank is ready to provide more support to smaller business as country’s economic growth risks mounts, said Governor Yi Gang.
Monetary policy is in a “comfortable range” and is helping support the economy, he said on a panel at the Boao Forum for Asia on Friday.
“We also stand ready to support small and medium enterprises with more instruments if needed.”
Economists from UBS Group AG to Nomura Holdings Ltd. have downgraded their growth forecasts for this year to well below the government’s target of about 5.5%.
Meanwhile, investors are pulling funds out from Chinese assets pressuring the yuan amid Federal Reserves of U.S. hiking interest incentivizing funds flow to the U.S.