Sun Guofeng: maintaining the basic Stability of RMB Exchange rate at a reasonable and Equal level-Shanghai Metals Market

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Sun Guofeng: maintaining the basic Stability of RMB Exchange rate at a reasonable and Equal level

Translation 02:43:56PM May 30, 2019 Source:Interface

SMM News: at the annual meeting of the 2019 Financial Street Forum held today, Sun Guofeng, director of the Monetary Policy Department of the Central Bank, said that since the beginning of this year, the central bank has further improved the exchange rate market mechanism. We should give full play to the role of interest rates and exchange rates as internal and external prices of capital elements, properly handle the balance between internal and external equilibrium, continue to deepen the market-oriented reform of interest rates, improve the central bank's policy interest rate system, and promote the gradual integration of two tracks of interest rates. We will steadily deepen the market-oriented reform of the exchange rate, give full play to the function of the exchange rate in regulating the balance of payments and macroeconomic automatic stabilizer, stabilize market expectations, and maintain the basic stability of the RMB exchange rate at a reasonable and equal level.

Key Words:  RMB  exchange rate  reform 

Sun Guofeng: maintaining the basic Stability of RMB Exchange rate at a reasonable and Equal level

Translation 02:43:56PM May 30, 2019 Source:Interface

SMM News: at the annual meeting of the 2019 Financial Street Forum held today, Sun Guofeng, director of the Monetary Policy Department of the Central Bank, said that since the beginning of this year, the central bank has further improved the exchange rate market mechanism. We should give full play to the role of interest rates and exchange rates as internal and external prices of capital elements, properly handle the balance between internal and external equilibrium, continue to deepen the market-oriented reform of interest rates, improve the central bank's policy interest rate system, and promote the gradual integration of two tracks of interest rates. We will steadily deepen the market-oriented reform of the exchange rate, give full play to the function of the exchange rate in regulating the balance of payments and macroeconomic automatic stabilizer, stabilize market expectations, and maintain the basic stability of the RMB exchange rate at a reasonable and equal level.

Key Words:  RMB  exchange rate  reform