A man passes the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing on November 20, 2013. China will lift controls on deposit rates when conditions are ripe, said Wednesday the vice-president governor of the central bank, as part of efforts to advance a market-based interest rate regime. REUTERS / Jason Lee (CHINA – Tags: AFFAIRS)
BEIJING (Reuters) – The Chinese central bank will maintain a basic stability of the yuan exchange rate in a reasonable and balanced range, according to comments posted on its website Sunday.
Pan Gongsheng, deputy governor of the People's Bank of China (PBOC), said in an interview with Financial News, led by the PBOC, that the central bank was confident in its ability to maintain stable market functioning Chinese exchange.
The PBOC will also make the necessary counter-cyclical adjustments and strengthen macroprudential management as the situation evolves, while combating illegal and irregular behavior and preserving order in the foreign exchange market, said Pan. also director of the office. State Exchange Administration.
Reportage of Tom Daly and Xiaochong Zhang; Edited by Alison Williams