PBOC: Monetary policy will be neither too loose nor too tight

In a recently published statement, the People's Bank of China (PBOC) noted that they are able to cope with domestic and external uncertainties and added that the monetary policy would stay prudent and be "neither too loose nor too tight".

"We have plenty of room, policy tools to cope with external changes," the bank stated. Earlier today, the PBOC announced that it set the yuan reference rate at 6.7912 vs Thursday's fix of 6.7655.