China central bank says financial system stable
[BEIJING] China's central bank said on Tuesday that the country's financial system was basically stable, and it would maintain a prudent monetary policy, while also lowering borrowing costs and increasing the portion of direct financing in social financing.
The current economic conditions are complicated and should not be underestimated, the People's Bank of China (PBOC) said in a statement published on its website.
The bank reiterated that it will continue to push forward with interest rate liberalisation and to keep the yuan exchange rate at a "reasonable level", without providing details.
The bank also repeated that it will maintain a prudent monetary policy and keep liquidity "appropriate".
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms