Comments by PBOC deputy governor, Zhu Hexin
- Will keep reasonable, ample liquidity without flooding the financial system
- PBOC will unclog monetary policy transmission
- Will also effectively resolve problem of high financing costs for companies
Nothing new so far from the Chinese central bank. Anyway, taking a look at the yuan's performance against the dollar today:
The onshore yuan looks set to strengthen for the fourth straight trading day against the dollar, with the offshore yuan also holding onto earlier gains as the 1-year forward points remain at elevated levels still for the latter currency against the dollar:
And here's the implication of the higher forward points in case you missed it earlier last week.
