PBOC's Pan: Will Act If Overnight Rate Deviates from Operation Rates

People's Bank of China (PBOC) Governor Pan Gongsheng said on Wednesday that the central bank is prepared to intervene if the overnight money market rate consistently deviates from its operating target.

Speaking on monetary policy, Pan emphasized the PBOC's commitment to maintaining stability in short-term rates. The remark signals that the central bank is watching market liquidity closely and may adjust operations to keep the overnight rate aligned with its policy intentions.

No specific timing or magnitude of potential action was detailed, but the statement underscores the PBOC's proactive stance in managing financial conditions.