People's Bank of China reinforces commitment to stabilizing renminbi rates
By Zhou Lanxu |
chinadaily.com.cn |
Updated: 2023-09-20 11:19
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The People's Bank of China, the country's central bank, has reinforced its commitment to firmly forestall any foreign exchange rate overshooting and keep renminbi exchange rates generally stable at a reasonable and balanced level.
"We will correct deviations; stabilize expectations; firmly correct one-sided, pro-cyclical behavior and decisively deal with behaviors that disrupt market order," Zou Lan, head of the central bank's monetary policy department, said at a news conference on Wednesday.
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