The People's Bank of China said the country will retain its prudent monetary policy in the future.

The announcement was made in a quarterly monetary policy committee report released on Friday.

The report also stated that the "central bank will employ multiple monetary policy tools" for achieving the desired results, as it works to keep the yuan in stable position.

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It was further revealed that the central bank is looking to retain appropriate amount of liquidity, as it aims at liberalizing its interest rate regime and pursue currency reforms. The People's Bank of China has kept the interest rates at a record low for a year now. 

The change in the bank's perception about international developments was noted as well. In its previous quarterly reports, the bank raised some concerm about market volatility owing to Britain's exit from the European Union. However, the report maintained that the international economy is in the post-crisis deep adjustment phase and recovery is uneven across various markets.

The People's Bank of China will use appropriate monetary policy to ensure that it is neither too tight nor too lax. As stipulated in the report, the main aim is to ensure a reasonable growth of social financing and monetary credit. The bank will also carry out reforms for better efficiency to boost supply side structural improvements, while the markets will be allowed to have bigger say in determining the interest rates.

Tagspeople's bank of china, European Union, Britain