March 14, 2019 / 5:24 AM / 7 months ago

China will aim to remove 'grey rhino' risks in key areas - central bank

FILE PHOTO: A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s central bank said on Thursday it will strengthen efforts to prevent ‘grey rhino’ events and fend off risks of abnormal fluctuations in the financial markets.

The People’s Bank of China (PBOC) also reiterated it will strike a balance between stabilising growth and preventing risks, and step up counter-cyclical adjustment of monetary policy, according to a statement released on its website after an internal Communist party meeting.

Policymakers last year warned of potential “grey rhino” events - highly obvious yet ignored threats - surfacing in 2019 as the nation faces increasing uncertainties in the global economy and financial markets.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam

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