People’s Bank of China (PBOC) Governor Yi Gang said on Wednesday, the central bank “will be able to maintain a normal monetary policy and positive interest rates for as long as possible.”
“China's potential economic growth is expected to be kept within a reasonable range,” Yi added.
Additional comments
Will step up targeted support for key and weak sectors.
Will improve market-oriented floating foreign exchange system, effectively manage and guide market expectations.
Will deepen supply-side financial reforms.
Will strengthen and improve supervision of financial sector, establish long-term scheme to stabilise financial sector.
Financial institutions and stakeholders should shoulder responsibility of 'rescuing themselves' from risks.
Market reaction
The USD/CNY pair was last seen trading at 7.2730, modestly flat on the day.
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