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China's central bank to keep monetary policy stable
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IANS | 29 Dec, 2012
China's central bank has said it will continue to implement a prudent
monetary policy next year and pay close attention to potential financial
risks.
The People's Bank of China (PBOC) said in a statement
Thursday that it will keep policies stable and make monetary policies
more forward-looking, targeted and flexible, reported Xinhua.
The
central bank will fulfil its obligation to safeguard financial
stability and strive to prevent systemic and regional financial risks,
the statement said.
Earlier this year, the central bank lowered
benchmark interest rates twice, as well as cut commercial banks' reserve
requirement ratio, or the amount banks must put aside as reserves, to
bolster the slowing economy.
The government has vowed to
maintain a proactive fiscal policy and prudent monetary policy in 2013,
as the global economy is expected to maintain slow growth, according to a
central economic work conference held earlier this month.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
55.30
|
54.35 |
UK Pound
|
84.50
|
82.50 |
Euro
|
71.80
|
70.00 |
| Japanese
Yen |
54.40 |
53.00 |
| As on 19 May, 2013 |
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