In an article published on Sina.com, the People’s Bank of China (PBOC) senior advisor Sheng Songcheng expressed his take on the recent Yuan declines.
Key Points:
Yuan decline versus the dollar is a normal market reaction to fundamentals.
Don’t read too much into the decline.
The market shouldn’t assume PBOC is guiding the Yuan weaker.
No need to be pessimistic over the Chinese economy.
PBOC still maintains prudent, neutral monetary policy.
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