PBOC: Will keep Yuan exchange rate basically stable

People’s Bank of China Vice-Governor said in a statement on Friday, the central bank “will keep the Yuan exchange rate basically stable.”Impact from rate hikes in developed countries on China's economy will be limited.Inflation pressure under control in the near-term.Rising demand may boost prices, should also guard against imported inflation.At the time of writing, USD/CNY is trading at 6.7068, down 0.46% on the day.

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