PBoC’s Deputy Governor: To continue to implement appropriately loose monetary policy
People’s Bank of China (PBoC) Deputy Governor said during the European trading session on Wednesday that the central bank remains committed to loose monetary policy conditions to support overall demand.
Additional remarks
Will step up counter cyclical adjustments, help to expand domestic demand conditions.
7-day reverse repo rate remains the main policy rate, which provides pricing anchor for markets.
Overnight reverse repo operations will help improve liquidity management.
Studying plans to gradually increase frequency of overnight reverse repo operations.
To steadily push forward with reforms to improve policy framework.
To keep Chinese yuan currency basically stable.
Yuan currency faces both upward and downward factors, to continue to see two-way fluctuations amid global uncertainties.
Market reaction
The Australian Dollar (AUD) attracts slight bids following comments from PBoC's Deputy Governor. At press time, AUD/USD trades 0.17% higher to near 0.6986.
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