The People's Bank of China on Thursday announced plans to make changes to monetary policy, choosing the right moment to provide support to the country's economy, which is currently facing increased external pressure. In the report on the implementation of monetary policy for the fourth quarter, the bank noted the negative impact of changes taking place in the global economic system, which creates additional difficulties. The document pays special attention to the weak domestic demand and numerous potential risks faced by the Chinese economy. The central Bank stressed the need for retaliatory measures to overcome these challenges. Among the planned steps is the application of various monetary policy instruments, including the regulation of interest rates and reserve requirements for banks. These measures will be adapted depending on the state of both the domestic and global economic situation. In addition, the bank intends to maintain the necessary level of liquidity, contribute to the gradual recovery of prices and maintain the stability of the yuan exchange rate, which, according to the regulator, should remain within a «reasonable and balanced» level.
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