China c.bank to mop up FX flows with open market ops
BEIJING, March 6 |
BEIJING, March 6 (Reuters) - China will use open market operations, including purchase agreements and central bank bills, to mop up excess liquidity stemming from forex inflows, Yi Gang, deputy governor of the People's Bank of China, said on Wednesday.
Yi added that the 13 percent target set for M2 money supply growth this year was appropriate.
Yi was speaking to reporters on the sidelines of the annual gathering of China's parliament, the National People's Congress. (Reporting by Laura Yin and Jonathan Standing; Editing by Nick Edwards)
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