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
Topic |   China economy

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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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