China's central bank governor defends policy

Zhou Xiaochuan, governor of the PBOC, said Thursday it was too early to make a decision about the loosening of currency controls on the yuan. China's official news agency quoted him as saying "It is too early to reach a conclusion on whether the renminbi's value is undervalued or overvalued".

Source: Associated Press

China's central bank governor said Thursday it was too early to decide whether to loosen currency controls following meetings this week with Treasury Secretary John Snow.

Zhou Xiaoc