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PBOC minutes show no appetite for floating Chinese yuan - WSJ

Yuan stability now PBOC priority

The WSJ obtained the minutes of a March PBOC meeting where the economists asked to let the yuan fall. They got nowhere..

"The primary task is to maintain stability," said one central-bank official.

The exchange highlights a total reversal of the policy announced in August that called for a move towards a free-floating yuan.

"The yuan's daily exchange rate is now back under tight government control, according to meeting minutes that detail private deliberations and interviews with Chinese officials and advisers who spoke with The Wall Street Journal about the country's currency policy," the WSJ writes .

Officials ditched the plan in January, they say, and have essentially returned to the old policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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