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China's central bank says financial system stable

Reuters  |  BEIJING 

BEIJING (Reuters) - China's central bank said on Tuesday the country's financial system was basically stable and it would maintain prudent monetary policy, while also lowering borrowing costs and increasing the portion of direct financing in social financing.Economic conditions were complicated and should not be underestimated, the People's Bank of China (PBOC) said in a statement published on its website.The bank reiterated that it would continue to push forward with interest rate liberalisation and keep the yuan exchange rate at a "reasonable level", without providing details.The bank in ...

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First Published: Tue, July 14 2015. 17:02 IST