China’s central bank reiterated that it will aim for stability in the yuan as it seeks to promote exchange-rate reform and maintain prudent monetary policy.
Policy makers also said they would "earnestly strengthen and improve risk management" to ensure financial stability and prevent market risks, the People’s Bank of China said in a statement after its routine quarterly monetary policy committee meeting. Monetary officials said they will keep moderate liquidity in the financial system, according to the panel’s fourth-quarter statement.
"It’s a reiteration of the PBOC’s stance that, given the weakness of the economy, it will keep policy accommodative," said Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong.
