PBOC says prudent monetary policy will be forceful and precise

<ul><li>To pay more attention to cross-cyclical and counter-cyclical adjustment</li><li>Will replenish monetary policy toolkit accordingly</li><li>Will strive to foster sound monetary and financial environment</li><li>To keep yuan exchange rate basically stable</li><li>Will better support expanding domestic demand</li></ul><p>This reaffirms their current policy stance as they are continuing to try and bolster conditions to support the economic recovery. Personally though, I still hold some reservations about the improving domestic demand in China as it has been crushed quite badly from early to middle of this year.</p><p><br></p>

This article was written by Justin Low at www.forexlive.com.