On Sunday, the central bank of China said it would keep its policy steady. This was to be in tuned to cope with economic uncertainties in the global financial markets. The move was taken to make the country's currency stable. The financial lender would also undergo interest rate changes
The People's Bank of China said that the country's economic performance and inflation rate had remained stable, the financial institution said in a statement after a regular meeting of its monetary policy committee. However, the bank cited that there would be difficulties and challenges ahead as economic uncertainties remain.
The central bank would make a preemptive and timely policy fine tuning. The move was to aid the country's economic growth stability while maintaining prudent monetary policy.
The central bank had pledged to push forward in the market oriented interest rate reforms. The bank also pledged to improve the currency regime while keeping the exchange rate of the Yuan stable.
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