BEIJING (Reuters) – Stimulus measures implemented by the Federal Reserve over the past year and future policy changes that the U.S. central bank has signalled will have limited impact on China’s financial markets, a Chinese central bank official said on Thursday.
“The positive effect of China’s normal monetary policy stance is emerging,” Sun Guofeng, head of the People’s Bank of China’s (PBOC) monetary policy department, told a briefing. He said that policy was returned to normal after the COVID-19 epidemic in China was brought under control in May.
“The next step is to manage our own affairs well, and we must keep our monetary policy steady.”
China will keep the yuan’s exchange rate basically stable at a reasonable level, and step up prudent management of cross-border capital flows and guide market expectations. Read more…..
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