China’s financial markets are little affected by the monetary policy changes implemented by the US Federal Reserve over the past year.Sun Guofeng, head of the monetary policy department of the People’s Bank of China (PBOC), said during a press conference in Beijing.
Sun said the positive effect of China’s normal monetary policy stance is emerging. He said they are happy to see the efforts of other economies to return to normal monetary policy, which will be beneficial for the long-term healthy development of the world economy.
“The People’s Bank of China took note of recent increases in US Treasury yields, which led to the appreciation of the dollar and increased refinancing and debt repayment risks for some markets. emerging, “Sun explained. He anticipated that the People’s Bank of China will keep the yuan exchange rate basically stable at a reasonable level, intensify prudent management of cross-border capital flows and guide expectations.
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