PBOC Vows to Support Yuan Stability as Global Volatility Rises

China’s central bank governor reiterated a pledge to keep the yuan stable and vowed to insulate the nation’s financial markets from volatility spurred by the war in the Middle East.

“We will continue to keep the yuan basically stable and strengthen guidance for foreign exchange market expectations,” Pan Gongsheng, the Governor of the People’s Bank of China, said at a press briefing during the National People’s Congress on Friday.