China’s central bank said on Tuesday that it will maintain ample liquidity in the country’s financial system while taking steps to prevent asset bubbles in an increasingly leveraged economy. According to Reuters, in its third-quarter monetary policy implementation report, the People’s Bank of China said it will maintain a prudent monetary policy, fine-tuning in a preemptive and timely way and using multiple monetary policy tools flexibly to keep money markets stable. China has reported steady 6.7% economic growth for the last three quarters, and looks set to hit Beijing’s full-year target of 6.5 to 7%, fueled by strong infrastructure spending, record bank lending and a red-hot property market.
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