China central bank says to keep prudent monetary policy

World News
31-12-2011 | 06:06
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China central bank says to keep prudent monetary policy
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China central bank says to keep prudent monetary policy

China plans to keep a "prudent" monetary policy in 2012, the central bank said on Saturday.    

The central bank statement follows remarks by governor Zhou Xiaochuan in an interview with a local magazine saying China is not far from making the yuan convertible under the capital account.    

China's central bank cut reserve requirements for commercial lenders at the end of November for the first time in three years, a policy shift to ease credit strains and shore up an economy running at its weakest pace since 2009.    

Reuters
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