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MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI (Singapore)
(MNI)Beijing
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The People’s Bank of China will watch changes in the yuan closely and guard against any overshooting risks, implementing comprehensive measures to stabilise market sentiment and resolutely correct any pro-cyclical behaviors, said Zhu Hexin, vice governor of the PBOC and director of the State Administration of Foreign Exchange on Thursday in a briefing.

The yuan has experienced volatility against the U.S. dollar due to market expectations regarding the shift in the U.S. Federal Reserve's policy stance which has exacerbated turmoil in international financial markets. (See MNI: More Yuan Volatility Ahead, PBOC Vigilant)

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The People’s Bank of China will watch changes in the yuan closely and guard against any overshooting risks, implementing comprehensive measures to stabilise market sentiment and resolutely correct any pro-cyclical behaviors, said Zhu Hexin, vice governor of the PBOC and director of the State Administration of Foreign Exchange on Thursday in a briefing.

The yuan has experienced volatility against the U.S. dollar due to market expectations regarding the shift in the U.S. Federal Reserve's policy stance which has exacerbated turmoil in international financial markets. (See MNI: More Yuan Volatility Ahead, PBOC Vigilant)

Keep reading...Show less