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China Has Lots of Policy Room If Trade War Worsens, PBOC Chief Says

  • Yi: For the yuan, no number is more important than any other
  • Talk with Mnuchin this weekend to be ‘uncertain and difficult’
Bloomberg business news

PBOC’s Yi talks about the trade spat with the U.S., and the yuan. (Excerpts)

(Source: Bloomberg)
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Bloomberg News
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China’s central bank governor said there’s “tremendous” room to adjust monetary policy if the trade war deepens, joining counterparts in Europe and the U.S. in displaying readiness to act to support the economy.

In an exclusive interview with Bloomberg in Beijing, People’s Bank of China Governor Yi Gang also signaled that he’s not wedded to defending the nation’s currency at a particular level, and stressed that the value of the yuan should be set by market forces.