Markets regain confidence after PBoC officials intervene

yuan
Yuan notes and coins

Faced with continued scepticism as to its motives, the People's Bank of China (PBoC) managed to restore some confidence to markets today (August 13), as top central bank officials spoke out.

At a press conference deputy governor Yi Gang and assistant governor Zhang Xiaohui reiterated that the decision to link the renminbi more closely to markets on August 11 was part of ongoing liberalisation, and not an attempt at competitive devaluation.

Zhang said the move was part of bid to push policy in a

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: