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China central bank vows to maintain ample liquidity after Brexit

Xinhua, June 24, 2016 Adjust font size:

China's central bank on Friday vowed to continue its prudent monetary policy and use multiple policy tools to keep liquidity reasonably ample and safeguard financial stability after Britain voted to leave the European Union.

The statement was made by the People's Bank of China (PBOC) hours after Britain voted in favor of quitting the union.

The central bank said it had noticed reactions to the result of the referendum in the financial market and a contingency plan is in place to deal with any effects.

The PBOC said it would further improve the market-oriented mechanism for the formation of renminbi exchange rate, and keep the currency's exchange rate basically stable at a reasonable equilibrium level.

The PBOC would also enhance policy communication and coordination with other central banks and international financial institutions, it said. Endi