The People’s Bank of China may launch a new tool of monetary policy this year, China Business News reported Monday, citing a PBoC official. The new tool will be more flexible, effective, and with more specific functions, the official said. In the beginning of 2013, the central bank unveiled two monetary policy tools — short-term liquidity operation and standing lending facility, the report said. Its monetary policy tool kit also includes central bank bills, repurchase agreements and reverse repurchase agreements, it added.
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