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Chinese central bank chief says will keep monetary policy flexible

2018-12-04 10:53:35       source:CNBC

December 4, 2018

China’s central bank will keep its monetary policy flexible and appropriately adjust it according to changes in the country’s economic situation, bank governor Yi Gang said in a magazine article published late on Monday.

Yi said that tools he described as a “slow release of air” and “soft landing” must be used when the economy begins overheating or a bubble in asset prices starts developing, but that financial markets must be stabilised and public confidence enhanced if a recession or external shock occurred.

China’s central bank has recently eased monetary policy in the face of slowing economic and credit growth, with moves that included bringing down market interest rates and four cuts in bank reserve requirements so far this year.

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