PBoC: Prudent monetary policy will be more flexible, targeted

The People’s Bank of China’s (PBoC) said on Wednesday that the prudent monetary policy will be more flexible and targeted and added that it will stabilise land prices, home prices and property market expectations.

"The PBoC will keep liquidity appropriately ample," the bank further noted, as reported by Reuters. "PBoC expects macro leverage ratio to gradually return to a reasonable level."

Market reaction

These headlines don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 futures were posting small daily gains at 3,318.