Jawboning from the People's Bank of China on the yuan.
Liu Guoqiang, deputy governor of the People's Bank of China:
- It's not good to see yuan exchange rate too high or too low
- Will prevent sharp fluctuations in yuan
- Expects china's economy to improve
- China's cross-border capital flows are basically balanced
- Moves in yuan exchange rate will not be one-way
And, more, these from Zou Lan, head of the monetary policy department at the bank:
- There is ample room, various polices tools to cope with challenges
- Will use policy tools such as reserve requirement ratio and medium-term lending facility
- Will innovate new policy tools if needed
Earlier comments from Liu are here:
