Lu Lei: Monetary stability and financial stability are the central goals of the central bank's work

At the press conference of the State Council Information Office, Lu Lei, Vice Governor of the People's Bank of China, stated that monetary stability and financial stability are the central goals of the central bank's work. It is necessary to establish a dual pillar framework consisting of a monetary policy system and a macro prudential management system, to do a good job in countercyclical and cross cyclical adjustment, to maintain the matching of social financing scale and money supply growth with expected economic growth and overall price levels, to improve the formation, regulation and transmission mechanism of market-oriented interest rates, to give full play to the decisive role of the market in exchange rate formation, to enhance the elasticity of the RMB exchange rate, to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and to enhance the level of monetary policy communication and expectation management.