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There should be a separation between fiscal and monetary policies, the People’s Bank of China Governor (PBOC) Yi Gang said in an interview with the state media outlet China Securities Journal.

Further comments

“Separating government finances from the central bank avoids debt monetization.”

“Central bank balance sheet should not bear the credit risk of enterprises.”

USD/CNY advances above 6.5800

USD/CNY trades 0.11% higher at 6.5831 despite the upbeat Chinese Caixin Manufacturing PMI and broad US dollar retreat amid risk-on market profile.

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