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CHINA PRESS: PBOC Sends Stronger Signal To Stabilise Yuan

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

The People's Bank of China has sent a clearer and stronger signal on stabilising the yuan in its Q4 monetary policy meeting, emphasising “strengthening market management” whilst deleting “enhancing exchange rate flexibility” which appeared in its Q3 meeting, PBOC-run newspaper Financial News reported. The PBOC showed determination to maintain yuan stability by restoring its previous “three resolutes” statement, meaning to resolutely deal with market order-disrupting behaviors, prevent the formation of unilateral expectations and their self-realisation, as well as guard against the risk of exchange rate overshooting, the newspaper said.

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The People's Bank of China has sent a clearer and stronger signal on stabilising the yuan in its Q4 monetary policy meeting, emphasising “strengthening market management” whilst deleting “enhancing exchange rate flexibility” which appeared in its Q3 meeting, PBOC-run newspaper Financial News reported. The PBOC showed determination to maintain yuan stability by restoring its previous “three resolutes” statement, meaning to resolutely deal with market order-disrupting behaviors, prevent the formation of unilateral expectations and their self-realisation, as well as guard against the risk of exchange rate overshooting, the newspaper said.