In the last Monetary Policy Report for the third quarter, published on its website, the People’s Bank of China (PBoC) states that “will monitor the potential for rising inflation, especially changes on the demand side, and will continue to consolidate the favorable conditions for the increase in national cereal production and the proper functioning of the energy market, and will give adequate responses to keep the price level basically stable“.
Additional comments
“It will increase the intensity of prudent monetary policy instead of overissuing currency, strengthen cyclical adjustment to balance short-term and long-term needs, economic growth and price stability, as well as the internal and external environment.”
“It will also adhere to the decisive role of the market in the formation of the exchange rate, strengthen the management of expectations, and maintain the basic stability of the yuan at a reasonable and balanced level.”
Source: Fx Street
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