China's central bank comments in its quarterly meeting
- Prudent monetary policy should be not too loose and not too tight
- Will keep liquidity reasonably ample
- To keep the yuan exchange rate stable at a reasonable level
- Will further improve monetary policy transmission channel
- Will comprehensively use multiple monetary policy tools to keep reasonable growth in credit, social financing while also fending off systemic risks
Much like the case last week, the PBOC drops the wording of 'neutral' in its latest monetary policy description. If anything, considering the state of the global economy, it is hinting that the central bank is willing to resort to easing measures/policies to continue stimulating the economy next year.
The other comments are basically their usual rhetoric, particularly that on the yuan.
