PBOC’s Sun: Will keep liquidity at reasonably ample level this year

The head of the People’s Bank of China’s (PBOC) monetary policy department, Sun Guofeng, said the PBOC will keep yuan exchange rate flexibile and improve macro-prudential policy, in a column for China Finance magazine.

Additional Quotes:

PBOC to keep liquidity at reasonably ample level this year by using monetary tools such as RRR, MLF, OMO and SLF.

PBOC will improve transmission mechanism of loan prime rate.

Quickening M2 growth shows policy measures take effect.

Meanwhile, USD/CNY turns positive near 6.8900, recovering from the Asian session low of 6.8815.