The People's Bank of China: Pay attention to the long-term yield of the bond market and maintain the basic stability of the RMB exchange rate

The Monetary Policy Committee of the People's Bank of China held its Q2 2026 meeting and recommended standardizing credit market operations, reducing financing intermediary costs, and promoting the low operation of comprehensive social financing costs; Evaluate the operation of the bond market from a macro prudential perspective and pay attention to changes in long-term returns; Smooth the transmission mechanism of monetary policy and improve the efficiency of fund utilization; Enhance the resilience of the foreign exchange market, stabilize market expectations, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.