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PBoC official says there is a solid foundation to keep yuan exchange rate basically stable
Comments from a People's Bank of China official at this press conference: China's NDRC Vice Chair: macro polices effective, still challenges, striving to hit target Focused on the yuan: • Will pay more attention to changes in yuan exchange rate against a basket of currencies. • There is solid foundation to keep yuan exchange rate basically stable. • Will resolutely correct one-sided pro-cyclical behavior for yuan exchange. • Will resolutely curb disruptions to market order, resolutely guard against exchange rate overshooting risks. chart