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<p>People's Bank of China official:</p><ul><li> monetary policy to further improve cross-cyclical adjustments, maintain stable and moderate credit development</li><li>will keep liquidity reasonably ample</li><li>will avoid flood-like stimulus, keep prices stable</li></ul><p>This is regular sort of stuff from the People's Bank of China. The economy is being pummelled by COVID lockdowns, a property sector implosion, power shortages in major industrial hubs .... </p><p>And we get from the PBOC:</p><p>Sheesh.</p><p> BTW, I shouldn't single out the PBOC. The Fed is way, way behind the curve in its battle with <a href="https://www.forexlive.com/terms/i/inflation/" target="_blank" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa_1" class="terms__main-term">inflation</a>, as is the RBA and others. The <a href="https://www.forexlive.com/terms/b/bank-of-england/" target="_blank" id="c7b1a473-1b6d-47aa-acc3-15e65e973eb0_1" class="terms__secondary-term">Bank of England</a>, well, they are just a basket case. </p><p>Maybe I should nominate the Reserve Bank of New Zealand as at least getting on the ball very early. And the BOJ, nothing bothers that lot. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.