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PBOC Governor: No basis for persistent RMB depreciation

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    People’s Bank of China Governor Zhou is speaking at the G20 in Shanghai, noting that latest data shows positive signs for growth in 2016, adding that there is no basis for persistent RMB depreciation.

    Headlines

    Although GDP growth ins slower than in the past, it is still sustainable

    China economic fundamentals remain strong

    High savings rate can be translate into high level of investment

    Will continue prudent monetary policy

    China still has monetary space and tools to tackle downward pressure

    Fiscal policy will be more proactive

    No basis for persistent RMB depreciation

    China still runs high surplus in trade and has low inflation
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