China’s central bank: will resolutely prevent the risk of RMB exchange rate overshoot

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The People’s Bank of China said in its second-quarter monetary policy report released on Thursday that it “will resolutely guard against the risk of overshooting the RMB exchange rate.”

A prudent monetary policy will be precise and powerful.

Reasonably sufficient liquidity will be maintained.

The RMB exchange rate will be kept basically stable.

Systemic financial risks will be resisted.

Real estate policies will be adjusted and optimized in a timely manner.

Prices will remain basically stable.

We will give full play to the role of finance in promoting consumption, stabilizing investment, and expanding domestic demand.