China's monetary policy will provide necessary support for economic recovery in 2021, a vice governor at the People's Bank of China (PBOC) said on Friday, Reuters reports. Prudent monetary policy will be more flexible, targeted and appropriate this year, Chen Yulu told a news conference, adding the central bank will prioritize policy stability and avoid making sudden shifts. Chen also said the central bank will prevent big fluctuations in the country's asset prices through macro-prudential policies. Sun Guofeng, head of monetary policy department of the PBOC, told the same briefing that two-way fluctuations in the yuan will become normal. PBOC will keep yuan basically stable on a reasonable, balanced level, Sun said, reiterating the current stance.

Source: The Standard January 15, 2021 08:15 UTC