Free Trial

PBOC Seeks Stable Yuan: Deputy Governor

CHINA PRESS
MNI (Singapore)

The People’s Bank of China aims to keep the yuan basically stable at a balanced level, and while the currency may deviate in the short term, market forces and policy factors will correct the deviation in the medium and long term, wrote Deputy Governor Sun Guofeng in the PBOC-run China Finance magazine. The central bank will use various monetary policy tools to smoothen short-term fluctuations in liquidity timely and appropriately, and guide financial institutions to vigorously boost credit supply, Sun said. It will increase targeted efforts, such as further increasing the relending quota to boost credit support for agriculture, rural areas and small and micro enterprises, wrote Sun.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.