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PBOC To Monitor Inflation Risks - Q3 Monetary Policy Report

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will increase the intensity of prudent monetary policy instead of issuing excessive currency, strengthen cross-cycle adjustment to balance short-term and long-term needs, economic growth and price stability, as well as the internal and external environment, according to the Q3 Monetary Policy Report published on its website. The PBOC will monitor the potential for rising inflation, especially changes on the demand side, and continue to consolidate the favorable conditions for increasing domestic grain production and smooth operation of the energy market, and make appropriate responses to keep the price level basically stable, the statement said. It will also adhere to the market's decisive role in the formation of the exchange rate, strengthen expectations management, and maintain the basic stability of the yuan at a reasonable and balanced level, the statement said.

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The People’s Bank of China will increase the intensity of prudent monetary policy instead of issuing excessive currency, strengthen cross-cycle adjustment to balance short-term and long-term needs, economic growth and price stability, as well as the internal and external environment, according to the Q3 Monetary Policy Report published on its website. The PBOC will monitor the potential for rising inflation, especially changes on the demand side, and continue to consolidate the favorable conditions for increasing domestic grain production and smooth operation of the energy market, and make appropriate responses to keep the price level basically stable, the statement said. It will also adhere to the market's decisive role in the formation of the exchange rate, strengthen expectations management, and maintain the basic stability of the yuan at a reasonable and balanced level, the statement said.