PBOC to keep monetary policy prudent
Print Edition
China’s central bank yesterday said it will continue to maintain a prudent monetary policy this year to create a sound financial environment and keep liquidity at a reasonable level.
“The international and domestic financial situation remains complicated and severe,” the People’s Bank of China said in a statement on its website after a work conference.
The PBOC will carry out “prudent monetary policy” and work to ensure “reasonably abundant liquidity” in the banking system this year, it said.
The statement came amid worries over slowing growth in the world’s second-largest economy and biggest trader in goods.
A combination of flexible tools will be used to ensure the banking sector’s liquidity stays at a reasonably abundant level, the statement said.
The PBOC will support commercial banks to lend more to key sectors and weak areas of the economy via multiple tools, including pledged supplementary lending and medium-term lending facility, it said.
The PBOC will push for continued optimization of credit structure so that the financial sector will back growth of the real economy.
It will also continue to make interest rates more market-based and improve the exchange rate formation mechanism to ensure a generally steady rate for the yuan, the statement said.
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