The headline crossed a little earlier, leaving befuddlement in its wake
As we all asked why the PBOC keeps on devaluing then?
Ah well.
Anyway, more from Yi Gang, a deputy governor of the PBOC, who was writing in the People's Daily. More via MNI:
- Yuan will remain basically stable at a reasonable and balanced level
- Some reserve currencies and convertible currencies experienced sharper fluctuations this year due to issues such as expectations of a Fed rate hike, Britain's Brexit decision & terror attacks in France
- As the domestic economy is in a transition period, China will continue with prudent monetary policy
- Will maintain ample liquidity, enhance credit support for small-medium enterprises, agriculture, and the poor, and create a supportive financial monetary environment for supply-side reform
And a pony for everyone, yeah?
