Mike had the headlines yesterday: PBOC repeats that China will pursue prudent monetary policy
Here’s more from the statement released from the quarterly meeting of the PBOC’s monetary policy committee:
- Said economic and financial structures had begun showing “positive changes” and that economic operations remained in a “reasonable range”
- Said it would stick to a prudent monetary policy
- Maintain “appropriate liquidity”
- Pursue reasonable growth in credit supply and social financing
- Push forward with reforms to interest rate and exchange rate mechanisms.
- Added that “multiple monetary policy tools” would be used to facilitate reasonable credit growth
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Note, the PBOC release a brief statement after such meetings, but a more detailed report on the meeting usually follows in the weeks after the summary is published.
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Such soothing noises coming from the PBOC will add to positive sentiment for the AUD … it needs it after last week’s kicking in the wake of the trade data and Reserve Bank of Australia (RBA) Governor Stevens’ comments.
