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PBOC To Step Up Policy Adjustments, Drive Price Rises

CHINA PRESS
MNI (Singapore)

The People’s Bank of China said it will step up macroeconomic policy adjustments to support the economy and promote a rebound in prices, following a quarterly meeting of its monetary policy committee, according to a statement published Thursday on the PBOC website. It will implement prudent monetary policy accurately and effectively, and focus on counter- and cross-cyclical adjustments to expand domestic demand and boost confidence. The central bank will stabilise expectations on the currency by correcting procyclical behavior and guarding against overshooting risks.

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