PBOC’s Yi Gang: Will maintain exchange rate policy framework

The Chinese central bank (PBOC) deputy governor Yi Gang is back on the wires, via Reuters, this time speaking on the exchange rate policy framework and interest rates.

Key Points:

China has kept Yuan basically stable at reasonable and balanced level

Will maintain exchange rate policy framework

Continue policy framework of managed flows, based on market supply and demand with reference to basket

Still need to consider health of China's economy in any decision on whether to raise interest rates