China's central bank reaffirms to keep liquidity reasonably ample

  • The PBOC issues its Q1 monetary policy implementation report
  • Prudent monetary policy will be precise and forceful
  • Will keep yuan exchange rate basically stable
  • Will keep interest rates reasonable, appropriate

The language is little changed as monetary policy is still referred to as being "prudent" and that they will maintain liquidity conditions as being "reasonably ample". This just reaffirms support to bolster the economic recovery, alongside the deposit rate cuts last week here.

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