PBOC vows to "open monetary policy toolkit wider to prevent credit fallout"

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"The top priority for now is stability and that requires the authority to step up policy efforts," said Liu Guoqiang, deputy governor of the People's Bank of China (PBOC) at a press conference on Tuesday, vowing to make monetary policy "sufficient, targeted and front-loaded."

Regarding how to step up policy efforts, Liu said that "the efforts should be sufficient and the monetary policy toolkit should be opened even wider to maintain steady aggregate . . .

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