China's central bank on Monday said it would fend off systemic risks to the economy and use forceful and targeted monetary policy to better support domestic demand. In its quarterly policy implementation report, the bank laid out the general direction of financial policy and said it would use a variety of monetary tools at its disposal to ensure sufficient liquidity. "Prudent monetary policy should be precise and forceful, with greater emphasis on cross-cyclical and countercyclical adjustments, enriching the monetary policy toolbox," the bank said. The bank added it would "further unblock the monetary policy ... (full story)