China will keep monetary policy prudent, flexible and appropriate, and continue to deepen financial reforms, the central bank said on Sunday, reiterating previous policy statements, reported Reuters.
After a work meeting chaired by People’s Bank of China Governor Yi Gang, the central bank also vowed to prevent any financial crisis, and said it would continue to help small companies seeking financing, according to a statement posted on PBOC’s website.
It also said it will continue to let market play a decisive role in the currency exchange rate, but would keep the yuan exchange rate stable within a reasonable range.
The PBOC on Wednesday cut the amount of cash that banks must hold as reserves for the eighth time in nearly two years, in a bid to shore up the slowing economy.