PBOC Deputy Governor: Will keep Yuan exchange rate basically stable

Source Fxstreet
Apr 18, 2024 06:48

People’s Bank of China’s (PBOC) Deputy Governor said on Thursday that they “will keep the Yuan exchange rate basically stable.”

Additional comments

Recent improvements in China's economy will provide support Yuan exchange rate.

Has confidence, conditions, ability to keep forex market stable.

Will prevent the formation of one-sided expectations on Yuan.

PBOC has set up credit market department.

Market reaction

At the time of writing, USD/CNY is holding flat at 7.2368, off the five-month high of 7.2405.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Fed's Jefferson: Too early to tell if recent slowdown in disinflationary process will be long-lastingFederal Reserve (Fed) Vice Chair of the Board of Governors Phillip Jefferson said on Monday that they will assess incoming data, evolving outlook and balance of risks to set appropriate stance of policy rate, per Reuters.
Source  Fxstreet
Federal Reserve (Fed) Vice Chair of the Board of Governors Phillip Jefferson said on Monday that they will assess incoming data, evolving outlook and balance of risks to set appropriate stance of policy rate, per Reuters.
placeholder
China’s Retail Sales rises 2.3% YoY in April, Industrial Production up 6.7%China’s Retail Sales rose 2.3% YoY in April from 3.1% in March, worse than the 3.8% expected.
Source  Fxstreet
China’s Retail Sales rose 2.3% YoY in April from 3.1% in March, worse than the 3.8% expected.
placeholder
Fed's Bowman: I don't see rate cuts as warranted this yearFederal Reserve (Fed) Board of Governors member Michelle W.
Source  Fxstreet
Federal Reserve (Fed) Board of Governors member Michelle W.
goTop
quote