PBOC: Coronavirus epidemic will not change China's sound long-term economic fundamentals

Dhwani Mehta FXStreet

In a commentary in its publication, the People’s Bank of China (PBOC) said that the impact from the virus epidemic on China's economy is temporary.

Additional Headlines:

The impact from virus epidemic on china's economy is limited

The stock market plunge on Monday has some irrational factors, or even panic triggered by herd effect.

Epidemic will not change China's sound long-term economic fundamentals.

China's economic development still has positive factors and shows strong resilience.

Positive factors in economic growth will provide long-term support for economic stabilization, steady financial market operations.

Believe market operation will return to rational state in long run.

The conciliatory comments from the Chinese central bank helped the local stock markets to recover slightly at the close while adding to the buoyant risk tone. USD/JPY picks up fresh bids and looks to test the daily highs at 108.58.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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