PBOC adviser backs yuan rate policy

A Chinese central bank adviser has said that monetary policy should stay stable in the near future and that China's economic growth and inflation were optimally matched, the Financial News said on Tuesday 5 July.

"I think although the economic situation may have undergone or is undergoing important changes, monetary policy should stay stable in the near term," said Yu Yongding, a researcher who is also a member of the central bank's monetary policy committee.

"It's possible that a turning poi