PBOC says will continue with prudent, neutral monetary policy

Comments in the Q2 monetary policy report

• PBOC to monitor impact of global markets on China liquidity
• PBOC to keep liquidity 'basically stable' with multiple tools
• Counter-cyclical factor measure keeps yuan FX rate stable, will increase flexibility
• PBOC to limit credit flows to speculative housing purchases

That generally sounds like the status quo but the comments on housing and a more flexible yuan are notable. But China has promised more flexibility for years without really delivering.