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China’s central bank keen to avoid ‘irrational panic’ despite economic slowdown, says governor
China’s central bank will continue to fine-tune its monetary policy in a timely manner to better offset the slowdown in the country’s economy and look to maintain the stability of yuan exchange rate by closely monitoring cross-border capital flows to avoid “herd behaviour and irrational panic”, People’s Bank of China governor Yi Gang said on Thursday night. “In the face of external shocks, we must take timely measures to prevent market instability and especially to stabilise public confidence,” Yi said in a lecture at the school of economic management at Tsinghua University. “There indeed has been ... (full story)