China's Premier Li Keqiang met with International Monetary Fund Managing Director Christine Lagarde over the weekend
China state TV reported comments from Li on
- the People's Bank of China continue its prudent monetary policy
- to maintain stability in the financial markets
- Keep a balance between financial stability, gradual deleveraging & steady economic growth
On the currency:
- China would prioritize preventing financial risks while moving towards a more market-based exchange rate
- Will keep the yuan at a reasonable and equilibrium level
There is nothing in his comments that comes as a surprise.
