PBOC is trying to maintain the yuan's exchange rate at logical levels

At its quarterly meeting, the People's Bank of China confirmed that the current monetary policy is more appropriate with economic developments. The highlights of the report are:

• Monetary policy should not be too loose or tightening.
• Liquidity will remain reasonably adequate.
• We try to maintain the exchange rate of the yuan at logical levels.
• We will improve monetary policy transfer.
• Ready to take all necessary measures if circumstances so require.
• We will use multiple monetary policy tools in a comprehensive manner to maintain reasonable growth in credit and social finance while also addressing systemic risks