PBOC Adviser Says Can Consider Small Yuan Depreciation, Securities Reports
July 30 (Bloomberg) -- Nigel Chalk, the International Monetary Fund's mission chief to China, talks with Bloomberg's Susan Li about the outlook for the country's currency and central bank monetary policy. People’s Bank of China officials said "that with a benign inflation outlook there was less need for higher nominal interest rates at this point," the IMF said in a statement yesterday after annual consultations with the Chinese government. (Source: Bloomberg)
Chinese central bank adviser Zhou Qiren said the nation can consider a small yuan depreciation to help stabilize export growth, the China Securities Journal reported today.
The central bank has already indicated that there won’t be one-time adjustments in the value of the yuan, showing that adjustments of the exchange rate will be long-term and have fluctuations, Zhou was cited as saying.
To contact the reporter on this story: Jian Guo Jiang in Shanghai at jjiang@bloomberg.net
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