PBOC’s Yi Sees No Need to Widen Yuan Band Amid Currency Pressure
This article is for subscribers only.
There’s no “urgent need” to widen the yuan trading band, the deputy central bank governor in charge of foreign exchange reserves management said, even as China’s currency contends with depreciation pressure
“I’m still patient,” Yi Gang, who’s also head of State Administration of Foreign Exchange, said in a brief interview as he entered a Beijing subway station Tuesday after attending the first day of the annual meeting of the Chinese People’s Political Consultative Conference. “I don’t see any urgent need to adjust” the yuan’s trading band, he said.