Zou Lan: It is not advisable to judge the central bank's policy orientation based on the volume of a single open market operation

Vice Governor of the People's Bank of China, Zou Lan, stated at a press conference held by the State Council Information Office that the People's Bank of China takes into account various factors to adjust the variety and scale of open market operations, in order to maintain an appropriate level of liquidity and promote the stable operation of short-term interest rates near policy rates; The single operation volume serves the regulation of total liquidity, and it is not appropriate to judge the central bank's policy orientation based on the single operation volume. The level of short-term market interest rates is a more suitable observation indicator. (Securities Times)