China central bank says to launch new measures to counter coronavirus impact

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s central bank reiterated on Monday that it will launch new measures to counter the impact of the coronavirus outbreak in the country and implement its prudent monetary policy in a flexible manner.

The People’s Bank of China said in a statement it would also reduce interest rates on loans to small and micro companies appropriately in order to prevent the breakdown of the flow of cash and capital flows into he market.

Reporting by Cheng Leng, Colin Qian and Se Young Lee; Editing by Alex Richardson