The People’s Bank of China’s Governor Yi Gang said he’s “confident” the yuan will stay basically stable at a reasonable and equilibrium level, as many factors favor a stable currency.
The yield spread between US and Chinese 10-year sovereign bonds was “still in a relatively comfortable range” and the chance for the Federal Reserve to raise interest rates was slimmer, which are creating a more favorable environment for the yuan's stability, said Yi on May 18, according to a statement released by the state-run China’s Securities Journal.
Yi’s comments come after Guo . . .
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