China’s central bank pledged to maintain its “prudent and neutral” monetary policy and to use multiple tools to keep liquidity ample, as the world’s second-biggest economy comes under increasing pressure from a heated trade dispute with the United States, Reuters reports.
On its website following a quarterly meeting of its monetary policy committee, the People’s Bank of China (PBOC) said on Saturday it will fine tune monetary policy in a pre-emptive way and control the pace of deleveraging.
The PBOC is expected to keep policy relatively loose to support a slowing economy as China faces increased headwinds from trade frictions with Washington.
The central bank said it would strike a balance between interest rate, exchange rate and international balance of payments.