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China c.bank says to keep policy steady, sees inflation risks

Tuesday, 5 Nov 2013 | 3:34 AM ET

BEIJING, Nov 5 (Reuters) - China's central bank said on Tuesday that it will maintain its prudent policy-setting with timely fine-tuning to keep the economy on an even keel while warding off inflationary risks.

The People's Bank of China said it will use various policy tools to guide reasonable growth in credit and social financing, it said in its third-quarter monetary policy report published on its website, www.pbc.gov.cn.

It urged banks to strengthen their liquidity management and warned that the economy will undergo a long deleveraging process.

The central bank also pledged to push forward interest rate and currency reforms while prevening systemic risks in the economy.

(Reporting by Aileen Wang and Kevin Yao)