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China central bank says to continue stable, neutral monetary policy

China central bank says to continue stable, neutral monetary policy© Reuters. FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People’s Bank of China in Beijing

HONG KONG (Reuters) – China’s central bank said on late Friday it would keep the yuan currency broadly stable while maintaining a stable and neutral monetary policy.

The People’s Bank of China will fend off systemic risks and use multiple monetary policy tools to ensure financial stability in the world’s second largest economy, it said in its first-quarter monetary policy implementation report.

It also plans to include negotiable certificates of deposit (NCDs) issued by financial institutions with assets of less than 500 billion yuan ($78.99 billion) in its quarterly macroprudential assessment (MPA) from the first quarter in 2019.

($1 = 6.3302 renminbi)

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Source: Investing.com

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