PBOC says advisable to maintain stable yuan

China's yuan exchange rate should be kept at a relatively stable level given the recent emergence of trade deficits, a People's Bank of China official said on Wednesday 10 March in an editorial in a China daily.

The official also said in the China Daily newspaper that he expected trade deficits in the medium to long term would result in pressure on the currency, also known as the renminbi, to devaluate.

"Seen from the perspective of trade balance, it is advisable to maintain the renminbi exchan