PBOC to further push for yuan internationalization in 2016

By FXStreet FXStreet (Mumbai) – The PBOC in its 2016 Work Meeting held earlier today, enlisted the following objectives set by the bank for 2016:

To maintain prudent monetary policy

To flexibly use monetary policy tools to keep adequate liquidity in banking system

To keep using mlf, psl and credit policies to support key areas in the economy

To further improve currency formation mechanism

To keep yuan basically stable

To deepen reform of fx management system and financial institutions

To guide funding cost for the economy lower

To further liberalise interest rates

To further push for yuan internationalization
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Source:: FX Street