In a China Finance magazine article published late on Monday, the People’s Bank of China (PBOC) Governor Yi Gang commented on the central bank’s monetary policy.
Key Headlines (via Reuters):
PBOC will keep its monetary policy flexible and appropriately adjust it according to changes in the country’s economic situation.
Tools he described as a “slow release of air” and “soft landing” must be used when the economy begins overheating or a bubble in asset prices starts developing.
But that financial markets must be stabilized and public confidence enhanced if a recession or external shock occurred.
The central bank would continue to promote the opening up of China’s financial industry to technology, improve governance and develop a macro policy framework that will enhance international confidence in the renminbi.
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