(Yicai Global) Aug. 20 -- China's current market rates stand at a reasonable level, according to the deputy governor of the nation's central bank.
China is the only major world economy that still applies a conventional monetary policy because the central bank does not need to buy government debt and interest rates are far from the level of zero, Liu Guoqiang told Yicai Global at a press conference today.
Chinese financial institutions' reserve requirement ratio still has certain room to be cut but that space is not as large as some market players may expect, said Sun Guofeng, monetary policy bureau director at the People's Bank of China.
The PBOC's usual monetary policy tools include setting benchmark interest rates and RRRs to control liquidity.
Editor: Emmi Laine