September 27, 2019 / 12:58 PM / 2 months ago

China central bank will keep monetary policy prudent with economy under pressure

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

HONG KONG (Reuters) - China’s central bank said on Friday the economy faces downward pressure amid a complex international financial environment and as external uncertainties increase.

Economic growth remains resilient and yuan exchange rates have largely been stable, the People’s Bank of China (PBOC) said in a statement after its monetary policy committee’s third-quarter meeting.

PBOC reaffirmed its stance that prudent monetary policy should neither be too tight nor too loose, and vowed to keep M2 and social financing growth in line with nominal gross domestic product growth.

Reporting by Meg Shen and Twinnie Siu; Editing by Catherine Evans

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