China Central Bank Pledges Moderate Easing, Pushes Bond Market Liquidity Tool

Cointime update: The People’s Bank of China’s third-quarter monetary policy report said it will maintain a moderately loose monetary policy and use a swap facility for large non-bank redemptions in the bond market to keep stocks, bonds and the yuan stable. A separate column in the report said tax factors must be considered when comparing yields on government bonds, credit bonds and loans.