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- China central bank says will keep yuan stable to help exporters
China central bank says will keep yuan stable to help exporters
Reuters reports that a central bank deputy governor said China will continue to keep its currency stable and make timely adjustments to its policy tools to help struggling exporters.
“We’ve noticed that some companies may have this issue, so we will continue to keep the exchange rate stable and make timely adjustments to the policy tools,” Vice Governor Fan Yifei told a press conference, when asked about the issue that exporters are loss-making on all of their orders.
The yuan weakened on Thursday as the dollar traded near its highest levels in three months and after China’s cabinet floated the possibility of cuts to banks’ reserve requirements to support economic growth.
The government will continue to push real lending rates lower and reduce financing costs for small companies through targeted monetary policy tools, Fan added.
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