The People’s Bank of China has more monetary policy space and multiple instruments to address possible downside risks, Governor Zhou Xiaochuan said Friday.
He reiterated that there is no room for persistent renminbi depreciation. In the long-run, the exchange rate will reflect economic fundamentals, he noted.
The economic growth remains relatively strong, Zhou said ahead of this week’s G20 meeting in Shanghai.
The central bank said foreign reserves will be maintained around appropriate and reasonable level.
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