A new global economic slowdown would pose additional risks to already fragile financial systems and threaten the sustainability of public debts, in Europe and elsewhere. 13. At this juncture, support from monetary policy, both conventional and unconvential, remains essential.
Since December 2021, one-year and five-year LPRs have gone down by 15 and 5 basis points respectively. By end-March, M2 and total social financing expanded by 9.7 and 10.6 percent respectively, both saw significant increases compared with the end of 2021.