Impact on China’s forex assets from volatility in US bond markets is limited

The People’s Bank of China ()PBOC) Deputy Governor said in a news conference that the “impact on China’s forex assets from volatility in US bond markets is limited.”

Additional takeaways

• Resilience in China’s economy, the forex market will provide support for Yuan stability.
• The central bank will continue to implement an appropriately loose monetary policy, step up support for the economy.
• China will keep the Yuan basically stable.
• The central bank will stabilise market expectations on the Yuan and resolutely deal with market-distorting behaviors.