PBoC declares stable Yuan and prudent policy to support the economy

China's central bank, the People's Bank of China(PBoC), declared to use multiple monetary policy tools to support the economy. The PBoC said it will use:

• prudent monetary policy should be not too loose, not too tight.
• it will keep liquidity reasonably ample.
• it will step up counter-cyclical adjustments.
• it will keep Yuan basically stable.
• it will make monetary policy more forward-looking, flexible and targeted.
• it will keep reasonable growth in credit, social financing.
• it will comprehensively use multiple monetary policy tools.
• it will further improve the monetary policy transmission channel.