PBOC governor will maintain yuan exchange rate at a reasonable, balanced level

  • Will step up countercyclical adjustment
  • Should resolutely guard against the risk of exchange rate overshoot
  • To strengthen financial oversight oversight comprehensively to prevent systemic risks
  • Will strengthen consistency of macroeconomic policies to form synergy between monetary and financial policies

Nothing too major there and the remarks here aren’t going to soothe investors after the disappointing stimulus announcement from Friday last week.

This article was written by Justin Low at www.forexlive.com.

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