China to focus more on "degree of tightness" in policy: central bank

[BEIJING] China's central bank said on Friday it would focus more on the "degree of tightness" in monetary policy to keep the economy growing at a stable rate, adding to recent comments that it wanted policy to be neither too loose nor too tight.

Authorities should not underestimate the complexities that are clouding the outlook of the world's second-biggest economy, the central bank said in a short statement after the first-quarter meeting of its monetary policy committee.

The bank said it would maintain prudent monetary policy while keeping the yuan at a "reasonable and balanced" level.

REUTERS