[Central Bank: Comprehensive use and timely adjustment of monetary policy tools to maintain adequate liquidity] September 24th, the People’s Bank of China’s Monetary Policy Committee’s regular meeting for the third quarter of 2026 (the 114th in total) was held on September 19th. The meeting studied the main ideas for monetary policy in the next stage, and recommended giving full play to the integrated effect of incremental policies and existing policies, enhancing the forward-looking flexibility and pertinence of policies, and grasping the intensity, rhythm and timing of policy implementation based on the domestic and international economic and financial situations and financial market operations. Comprehensively use and timely adjust monetary policy tools to maintain sufficient liquidity and match the growth of social financing scale and money supply with the expected goals of economic growth and overall price level. Promote the reform and improvement of the operational framework of monetary policy. Standardize credit market operations, reduce financing intermediate costs, and promote the low-cost operation of comprehensive social financing. Observe and evaluate the operation of the bond market from a macro-prudential perspective, and pay attention to changes in long-term yields. Smooth the monetary policy transmission mechanism and improve the efficiency of fund use. We should uphold the decisive role of the market in the formation of exchange rates, enhance the resilience of the foreign exchange market, stabilize market expectations, and at the same time prevent the market's "herding effect" and the self-reinforcement of irrational expectations, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.