September 24, 2019 / 1:56 AM / 2 months ago

China has ample monetary policy tools to support economy - central bank

FILE PHOTO: A fluttering Chinese national flag casts its shadow on the headquarters of China's central bank, People's Bank of China (PBOC), in central Beijing, China November 24, 2014. REUTERS/Kim Kyung-Hoon/File Photo

BEIJING (Reuters) - China has ample monetary policy tools and relatively large policy room to support its economy, the country’s central bank said on Tuesday, adding that the current interest rate levels are appropriate.

Dangers from shadow banking and key institutions have been steadily resolved, said the People’s Bank of China (PBOC) in a statement handed out before a press conference, adding that the country’s financial risks are generally under control.

The banking sector’s non-performing loan (NPL) ratio stood at 1.99% currently, said the PBOC.

Reporting by Kevin Yao; Editing by Shri Navaratnam

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