(Yicai Global) June 30 -- The People’s Bank of China expressed apprehension about international inflation in its latest monetary policy meeting and said that it will step up efforts to ensure employment and keep commodity prices stable.

“The world’s economic growth is slowing down and inflation remains elevated,” the PBOC said on its website yesterday, following its second-quarter monetary policy meeting on June 24. No mention was made about global inflation in the first-quarter meeting earlier this year.

The central bank will continue to implement prudent monetary policy and will give full play to the use of targeted structural tools together with broader measures, it said.

It will maintain stable commodity prices based on favorable domestic conditions for grain production and the steady operation of the energy market, the central bank said. No mention was made this time of keeping a stable macro leverage ratio in terms of credit supply and liquidity.

The PBOC will keep the Chinese yuan’s exchange rate with the US dollar at a reasonable and balanced level, it will strengthen the supervision of deposit yields, help to stabilize lenders’ debt expenses and reduce the financing costs for enterprises, it said. This is all in line with what was discussed at the first-quarter meeting.

The central bank’s view on real estate financing also remained unchanged. It will continue to safeguard the rights and interests of home buyers, better meet their reasonable needs and promote the healthy development of the property market.

Editor: Kim Taylor