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China central bank says will closely watch capital flows

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China's central bank said on Friday it would closely watch capital flows and use various monetary tools to ensure adequate liquidity and reasonable growth in credit and social financing.

[BEIJING] China's central bank said on Friday it would closely watch capital flows and use various monetary tools to ensure adequate liquidity and reasonable growth in credit and social financing.

In a statement summarising its third-quarter monetary policy meeting, the People's Bank of China (PBOC) reiterated that it would push ahead with interest rate and exchange rate reforms.

It also noted that China would keep the yuan basically stable while maintaining its prudent monetary policy, according to the statement on its website.

Emerging markets were facing increasing difficulties while there were more positive signs from US economy, the central bank added.

REUTERS