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China’s central bank says it has no plans to ease exchange rate controls

Summary:
[unable to retrieve full-text content]China’s central bank has no plans to alter its exchange rate mechanism, one of its deputy governors said on Sunday, dismissing speculation that the yuan might be allowed to move more freely against other currencies.The existing “managed floating exchange rate” system was “an institutional arrangement fit for China at present and in the foreseeable future”, Liu Guoqiang said in a brief statement published on the People’s Bank of China (PBOC)’s website.His comments came after Zhou Chengjun, the…

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[unable to retrieve full-text content]
China’s central bank has no plans to alter its exchange rate mechanism, one of its deputy governors said on Sunday, dismissing speculation that the yuan might be allowed to move more freely against other currencies.The existing “managed floating exchange rate” system was “an institutional arrangement fit for China at present and in the foreseeable future”, Liu Guoqiang said in a brief statement published on the People’s Bank of China (PBOC)’s website.His comments came after Zhou Chengjun, the…

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