The People’s Bank of China will use a variety of monetary policy tools to maintain liquidity at an adequate level and achieve reasonable growth in credit and social financing, China.com reported Sunday. Open market operations, adjusting the reserve requirement ratio, relending and rediscounting will be adopted to manage liquidity in the banking system. The central bank also pledged to enhance its communication with the market and the public to stabilize expectations and ensure stable performance of the interest rate. It will also pursue efforts toward interest rate liberalization and reform of the renminbi exchange rate mechanism, the report said.
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