February 21, 2019 / 12:17 PM / 4 months ago

China's central bank to keep yuan stable, maintain prudent monetary policy

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee

HONG KONG (Reuters) - China’s central bank said on Thursday that it will keep its yuan currency stable and maintain its prudent monetary policy to ensure financial stability in the world’s second-largest economy.

The People’s Bank of China (PBOC), the central bank, will also fend off any systemic risks by using multiple monetary policy tools, it said in its fourth-quarter implementation report.

The central bank also said it would encourage financial institutions to support small private enterprises as part of wider government efforts to avoid a sharp slowdown in economic growth.

Reporting by Twinnie Siu and Meg Shen in Hong Kong; Editing by Robert Birsel

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