PBOC official says will use monetary policy tools flexibly for reasonably ample funds

PBOC official:

• RRR cuts, open market operation, MLF, and all structural monetary policy tools needs to be used flexibly to maintain liquidity in banking system reasonably ample

• Will guide banks to effectively adjust mortgage interest rates and support banks to reasonably control cost of liabilities

• NDRC will strengthen policy reserve to unleash huge market potential

This is the from the new conference for this:

• The People's Bank of China and China's State Planner will meet today, Friday 4 August 2023

NDRC, finance ministry MOF, central bank PBOC, and taxation administration joint news conference. The subject matter is to promote high-quality economic development with combination of macro policies