Yi Says China Largely Ended Currency Intervention in Market Tilt
- PBOC governor makes rare speech during visit to Washington
- Yi says China’s potential growth estimate ‘very controversial’
This article is for subscribers only.
People’s Bank of China Governor Yi Gang said that Beijing has largely ended regular foreign-exchange intervention, and pursues a policy aimed at enhancing the ease of use of the yuan for Chinese households.
PBOC officials still “reserve the right” to intervene in the market, Yi said in a speech at the Peterson Institute for International Economics in Washington on Saturday. “I haven’t announced” that there is no intervention, he said.