Jawboning from the People’s Bank of China on the yuan.
Liu Guoqiang, deputy
governor of the
People’s Bank of China:
- It’s not good to see yuan exchange rate too high or too low
- Will prevent sharp
fluctuations in yuan - Expects china’s
economy to improve - China’s cross-border
capital flows are basically balanced - Moves in yuan
exchange rate will not be one-way
And, more, these from Zou Lan, head of the
monetary policy
department at the bank:
- There is ample room, various polices tools to cope with challenges
- Will use policy
tools such as reserve requirement ratio and medium-term lending
facility - Will innovate new
policy tools if needed
Earlier comments from Liu are here: