China’s central bank says it plans to keep the Chinese yuan “stable” and there will be no immediate revaluation of the currency.
The comments come just a day after the bank announced plans to make the exchange rate more flexible.
But Chinese authorities have ruled out a large, one-off adjustment in the exchange rate.
China has come under increasing international pressure to change its currency policy.
Read it all.
BBC: China yuan stability pledged
China’s central bank says it plans to keep the Chinese yuan “stable” and there will be no immediate revaluation of the currency.
The comments come just a day after the bank announced plans to make the exchange rate more flexible.
But Chinese authorities have ruled out a large, one-off adjustment in the exchange rate.
China has come under increasing international pressure to change its currency policy.
Read it all.