PBOC's Zhou says rigid ex rates pose 'huge risks'

Governor Zhou Xiaochuan of the People's Bank of China said the country's currency peg is a hazard for banks and companies, according to a published report.

"Rigid exchange rates amid imbalances in revenues and expenditures present huge risks," Zhou said, according to Bloomberg News. He did not go into more detail on how or when China might change its exchange rate.

China's trading partners have argued that the peg keeps the yuan undervalued, and therefore cheapens its exports, exacerbating bot

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