The People’s Bank of China (PBOC) governor Yi Gang is on the wires now, via Reuters, commenting on the exchange rate value, in the wake of the ongoing Yuan weakness.
Key Headlines:
Closely watching moves in FX market.
Closely monitoring recent FX fluctuations.
To keep Yuan stable at reasonable, equilibrium level.
To maintain prudent, neutral monetary policy.
Cross-border capital flows basically stable.
Must stick to managed floating exchange rate system.
To deepen market-oriented exchange rate reform.
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