Via Bloomie:
The People’s Bank of China won’t implement stimulus in “flood-irrigation” style, according to the quarterly monetary policy report released Friday night in Beijing. Prudent monetary policy should maintain neutrality and “keep balance between tightening and easing,” indicating a slightly easier bias than it did three months ago.
…The bank said it will flexibly use a combination of multiple monetary policy tools and further enhance macro-prudential management of the economy. It will also improve financial services through increasing supply and competition, according to the report.
