PBOC: Will keep Yuan exchange rate basically stable
|People’s Bank of China (PBOC) Vice-Governor said in a statement on Friday, the central bank “will keep the Yuan exchange rate basically stable.”
Additional comments
Impact from rate hikes in developed countries on China's economy will be limited.
Expects China inflation to remain moderate in 2023.
Inflation pressure under control in the near-term.
Central bank will closely monitor price rises.
Rising demand may boost prices, should also guard against imported inflation.
Expects M2 money supply growth to be stable this year.
Market reaction
At the time of writing, USD/CNY is trading at 6.7068, down 0.46% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.