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7/13/2021, 10:12 AM (Source: TeleTrader)
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PBoC's monetary policy doesn't depend on Fed - official

The monetary policy of the People's Bank of China (PBoC) will not be impacted by any possible changes that United States Federal Reserve makes to its response to the COVID-19 crisis, PBoC Monetary Policy Department Director-General Sun Guofeng said on Tuesday.

Delivering remarks during a press conference, Sun added that the PBoC will make necessary adjustments to its policies in line with the "domestic circumstances" like the state of the economy and the rate of inflation.

He expressed optimism regarding the price level in China, describing it as "basically under control," and underlined that the PBoC's current policy will provide an appropriate monetary environment in the second half of the year.

Baha Breaking News (BBN) / BU