China central bank says it will make prudent monetary policy more flexible and targeted

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BEIJING (Aug 6): China's central bank said on Thursday it will make prudent monetary policy more flexible and targeted, and keep liquidity appropriately ample.

The People's Bank of China (PBOC) said it expected the macro leverage ratio to gradually return to a reasonable level, and vowed to help banks to replenish capital and step up disposal of non-performing loans.

China will also stabilise land prices, home prices and property market expectations, the PBOC said in its second-quarter monetary policy implementation report, posted on its website, reiterating that it will not use the housing market as a short-term stimulus.