{"id":1683102,"date":"2022-10-11T08:56:25","date_gmt":"2022-10-11T12:56:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1683102"},"modified":"2022-10-11T08:56:46","modified_gmt":"2022-10-11T12:56:46","slug":"china-central-bank-says-will-resolutely-curb-big-currency-swings","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-central-bank-says-will-resolutely-curb-big-currency-swings\/","title":{"rendered":"China central bank says will \u2018resolutely\u2019 curb big currency swings"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-central-bank-says-will-resolutely-curb-big-currency-swings%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1683102&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BEIJING\/SHANGHAI (Reuters) \u2013     China\u2019s central bank spoke out against big currency swings on Tuesday, saying it will take steps to stabilise expectations, and keep the yuan basically stable.<\/p>\n<p>The People\u2019s Bank of China (PBOC) also said that the yuan did not necessarily need to weaken against the dollar when the index measuring the U.S. currency\u2019s performance against a currency basket rises.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>There have been cases in recent years where \u201cthe dollar appreciates, but the yuan is stronger,\u201d it said. <\/p>\n<p>The PBOC will \u201ctake comprehensive measures, stabilise expectations, resolutely curb big ups and downs in exchange rates,\u201d the central bank said in an article posted on its website. It would also act to \u201ckeep the yuan basically stable on a rational, equilibrium level,\u201d the PBOC added.<\/p>\n<p>The yuan has slumped more than 11% against the dollar this year, touching at one point its weakest level since the 2008 global financial crisis, weighed down by U.S. monetary tightening, China\u2019s economic slowdown and capital outflows.<\/p>\n<p>The central bank said it has ample policy room, many tools and \u201crich experience in effectively managing market expectations, and safeguarding exchange rate stability\u201d. <\/p>\n<p>The PBOC said that China\u2019s solid economic fundamentals were the best stabilizer for exchange rates, adding yuan assets were safe and \u201cglobal recognition of the yuan will keep rising.\u201d <\/p>\n<p>The central bank also said it will deepen currency market reforms, improve flexibility of the yuan, and warned against one-way bets.<\/p>\n<p>\u201cThere\u2019s no way to predict exchange rates accurately, and two-way fluctuation is the norm,\u201d the PBOC said.<\/p>\n<p>Also on Tuesday, China\u2019s foreign currency regulator said it has been pushing banks to provide better risk-hedging services to companies amid greater yuan flexibility.<\/p>\n<p>The Sichuan branch of the State Administration of Foreign Exchange (SAFE) launched a campaign to promote yuan derivatives, so that companies are \u201cdaring, willing, and able\u201d to hedge risks, the watchdog said.<\/p>\n<p> (Reporting by Shanghai newsroom; Editing by Andrew Heavens and Tomasz Janowski)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/china-central-bank-says\/attachment\/file-photo-paramilitary-police-officers-stand-guard-in-front-of\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9A0OO-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9A0OO-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING\/SHANGHAI (Reuters) \u2013 China\u2019s central bank spoke out against big currency swings on Tuesday, saying it will take steps to stabilise expectations, and keep the yuan basically stable. The People\u2019s<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1683102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1683102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1683102"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1683102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1683102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1683102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1683102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}