This year, the yuan has weakened 5.6 per cent against the US dollar, hurt by China’s economic slowdown and the ongoing trade row. Photo: Bloomberg
This year, the yuan has weakened 5.6 per cent against the US dollar, hurt by China’s economic slowdown and the ongoing trade row. Photo: Bloomberg

China’s central bank pledges prudent monetary policy and ‘basically stable’ yuan

  • People’s Bank of China statement drops ‘neutral’ for describing monetary policy and also removes reference to deleveraging
  • China expected to keep policy relatively loose to support slowing economy amid trade war with the United States

This year, the yuan has weakened 5.6 per cent against the US dollar, hurt by China’s economic slowdown and the ongoing trade row. Photo: Bloomberg
This year, the yuan has weakened 5.6 per cent against the US dollar, hurt by China’s economic slowdown and the ongoing trade row. Photo: Bloomberg
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