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PBOC Expected To Keep Stabilising Yuan - Analyst

CHINA PRESS
MNI (Singapore)
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The People’s Bank of China has an ample tool box to achieve its goal of stabilising the Yuan, said Ming Ming, chief economist of CITIC Securities, after the Yuan entered a wider two-way fluctuation range following other central bank movements. Since January, inflows into the financial account from investment in stock and bond securities have provided certain support for the yuan, Ming added. Li Liuyang, chief analyst of foreign exchange research at CICC noted changes in the central parity rate set by the PBOC will be an important signal. In the past week, the onshore yuan fell briefly below the 7.23 mark against the U.S. dollar and rebounded to as high as 7.19, fluctuating over 350 points. (Source: Shanghai Securities News)

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The People’s Bank of China has an ample tool box to achieve its goal of stabilising the Yuan, said Ming Ming, chief economist of CITIC Securities, after the Yuan entered a wider two-way fluctuation range following other central bank movements. Since January, inflows into the financial account from investment in stock and bond securities have provided certain support for the yuan, Ming added. Li Liuyang, chief analyst of foreign exchange research at CICC noted changes in the central parity rate set by the PBOC will be an important signal. In the past week, the onshore yuan fell briefly below the 7.23 mark against the U.S. dollar and rebounded to as high as 7.19, fluctuating over 350 points. (Source: Shanghai Securities News)