The People’s Bank of China will strengthen its counter-cyclical adjustment and increase the intensity of prudent monetary policy via both aggregate and structural tools to stabilize employment, prices and the economy, according to a statement on the PBOC website following the Monetary Policy Committee’s Q3 meeting. The PBOC will deepen the market-based reform of the exchange rate, enhance yuan flexibility and strengthen expectations management to stabilise the yuan at a reasonable and balanced level, the statement said.
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