At the most basic level, a central bank must be clear and open about its actions and operations, particularly when they involve the deployment of public funds.

The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.

The central bank needs to be able to make policy without short term political concerns.

History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.

Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.

A Central Bank official said that Q-coin did not affect the renminbi; it adds vibrancy to the economy.