China's central bank with some comments - 6 February 2018
- Will keep yuan basically stable
- Will comprehensively use multiple monetary policy tools
- Financial risk prevention one of the major tasks for 2018
- Aims to increase market's role in forming of exchange rate
- To expand opening up of China's bond market
- Will deepen market-based interest rate reform
- To strengthen macro management on shadow banking
Some interesting comments by the PBOC during their work conference over the past two days. The comments to keep the yuan stability at reasonable levels isn't something new, but let's see what they have in store in terms of "increasing the market's role" in determining the yuan rate.
