CBN丨PBOC to keep policy supportive for China economy

The PBOC has pledged to step up support for the slowing economy, but analysts say the room to ease policy could be limited by worries about capital outflows, as the US Federal Reserve raises interest rates.

In response to a question about the yuan’s recent depreciation, PBOC’s governor Yi Gang said China has a flexible and market-determined exchange rate system using a basket of currencies as reference. The yuan has strengthened against the US dollar by 25 percent over the past two decades and even more in real terms, he said.

 

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