1 Min Read
SHANGHAI (Reuters) - China will keep monetary policy generally prudent and stable, while also avoiding either a rapid slowdown in economic growth or excessive liquidity injections, the central bank assistant governor wrote on Friday.
The comments from the People's Bank of China's (PBOC) Zhang Xiaohui come after the central bank raised the rates on primary money market instruments on Friday in a further sign of a tightening policy bias.
China will keep the yuan basically stable and will avoid large volatility in interest rates and foreign exchange rates, Zhang wrote in an essay published by China Finance, a PBOC-affiliated magazine, through the messaging service WeChat.
Reporting by Shanghai newsroom; Editing by Jacqueline Wong