PBoC: China to deepen market orientated FX reforms in 2019
The People's Bank of China (PBoC) was out with a statement in the last hour and below are some of the key highlights:
• To strengthen the guidance of market expectation this year.
• To deepen market-oriented FX reforms in 2019.
• To keep monetary policy stable, improve counter-cyclical adjustments.
• To keep interest rates stable.
• Will steadily push forward Yuan internationalisation.
• Will orderly resolve shadow banking crisis.
• Will improve offshore yuan market liquidity framework.