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China central bank to maintain 'prudent' monetary policy in 2015

China's central bank will continue to maintain "prudent'' monetary policy in 2015, keeping credit growth stable while having its hands free to fine-tune policy when necessary, the regulator said in an online statement on Friday.

However, the bank said it would quicken the pace of market-oriented interest rate reform and push forward on increasing yuan convertability in the capital account.

Shanghai at night
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It also said it would take steps to prevent systemic risks in the financial sector.

The announcement reiterates the People's Bank of China's commitment to stable monetary policy even as speculation mounts that Beijing will have to take steps to boost growth and fend off deflationary pressures, in particular loosening monetary policy through a cut to reserve requirement ratios for banks.

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