China central bank governor promises to keep yuan ‘broadly stable’

Reuters/David Lawder and Yawen Chen/10-14-2018

“China will continue to let the market play a decisive role in the formation of the RMB exchange rate. We will not engage in competitive devaluation, and will not use the exchange rate as a tool to deal with trade frictions.” – Yi Gang, governor, Peoples Bank of China (as reported by Reuters at the link above)

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