PBOC Vows to Maintain Prudent Monetary Policy in Year Ahead

China Stabilizes But Still Govt. Intervention

China’s central bank pledged to continue prudent monetary policies this year while maintaining “reasonable, ample” liquidity in the banking system.

The People’s Bank of China said it would seek to keep the yuan’s exchange rates “basically stable” at reasonable and equilibrium level and work to further promote the internationalization of the currency, the monetary authority said Friday in a statement on its website. The PBOC also said it would continue to offer credit support to some key areas and lower social-financing costs with multiple tools, including the Pledged Supplemental Lending and Medium-term Lending facilities.

— With assistance by Ludi Wang

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