PBOC vows data-driven, independent monetary policy amid US Fed cut

Pan Gongsheng, governor of the People's Bank of China, said on Monday that China's monetary policy will remain independent and data-driven, following the US Federal Reserve's interest rate cut last week.

China's monetary policy adheres to the principle of staying oriented to domestic needs while balancing internal and external factors, Pan said at a news conference, adding that future decisions will be based on economic conditions and evolving circumstances.

Citing international central banking practices, Pan said PBOC will also follow a data-dependent approach in policy adjustment and comprehensively use multiple tools to ensure ample liquidity and lower financing costs.