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PBoC: China to deepen market orientated FX reforms in 2019

The People's Bank of China (PBoC) was out with a statement in the last hour and below are some of the key highlights:

   •  To strengthen the guidance of market expectation this year.
   •  To deepen market-oriented FX reforms in 2019.
   •  To keep monetary policy stable, improve counter-cyclical adjustments.
   •  To keep interest rates stable.
   •  Will steadily push forward Yuan internationalisation.
   •  Will orderly resolve shadow banking crisis.
   •  Will improve offshore yuan market liquidity framework.

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