No need for CNY depreciation – PBOC

FXStreet (Mumbai) - The People’s Bank of China (PBOC) once again assured markets that CNY expectations are stable and there is no need for CNY depreciation.

Key Quotes

Keep CNY within reasonable range

Level of debt is still rising

Cyclical, structural problems in china

Says overall liquidity is ample; lending, bond costs falling

To give markets a bigger say in setting exchange rate

To continue interest rate, fx reforms

Downward pressures facing Chinese economy

Inflation rise is likely to be low