PBOC governor Pan says will use various policy tools to keep liquidity reasonably ample

  • Will keep yuan exchange rate basically stable
  • Will steadily promote yuan internationalisation
  • Financial risks are generally under control
  • Monetary policy is mainly based on domestic conditions
  • There is still sufficient room for monetary policy
  • China’s economy faces some difficulties, but there are also positive factors

These are all token remarks but Chinese markets have rebounded strongly going into the speeches by key officials today, following a more tepid showing just hours ago. The talk of a rescue package from yesterday is still keeping investors on edge I would say, even with the “coincidental” bounce today. I mean, we all know who’s behind that, don’t we?

This article was written by Justin Low at www.forexlive.com. Source