PBoC: Reiterates Q3 economy within 'reasonable' range, reiterates 'prudent' monetary policy
- Q3 Monetary Policy Implementation Report
- Downward pressure on economy may rise (Note: Q2 report said would maintain stable growth in the coming months)
- Geopolitical risks and Ebola may impact trade and financing.- Reiterates to fine-tune policy at proper time based on the economy.
- To lower financing costs for real economy.
- Provided CNY500B of liquidity to banks through the MLF in Sept.
- Provided CNY270B of liquidity to banks through the MLF in Oct.
- The MLF has a maturity of 3-months and interest rate of 3.5%
- SLF outstanding as of the end of Q3 was zero.
- Reiterates to keep the yuan basically stable.
- To support rail and shipping industries.
- To continue crack down on housing speculation
- Japan inflation situation not clear- Euro zone faces relatively big deflation pressure
- Reiterates US policy adjustment may impact capital flows.