Yuan Stability Seen as Key Party Line as China Leaders Meet
- Premier Li to temper depreciation pressure: Merchants Bank
- Clarity, credibility, consistency key to drawing inflows: BBVA
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China’s leaders are expected to use their biggest annual policy gathering to temper depreciation expectations for the yuan while shying away from specifics on foreign-exchange reforms.
Premier Li Keqiang will probably use his platform at the National People’s Congress to drive home the point that the government will promote stability against a newly-unveiled basket of major currencies, according to China Merchants Bank. Leaders will probably refrain from announcing any detailed changes to the country’s yuan policy this year to avoid spurring further volatility, said Oversea-Chinese Banking Corp.