Economics
China Won’t Weaponize the Yuan in Trade War, PBOC Official Says
- Two PBOC officials say the currency will be kept stable
- Authorities may intervene if market ignores signal: analyst
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Chinese central bankers vowed to keep their nation’s currency stable and to not deploy it as a weapon in the trade conflict with the U.S., helping the yuan reverse some of its recent plunge.
People’s Bank of China Governor Yi Gang said China will "keep the yuan exchange rate basically stable at reasonable and balanced level," a repetition of standard language that helped stoke speculation that policy makers are prepared to take tougher actions to arrest the plunge in the currency.