PBOC: Will keep the Yuan basically stable

Citing the People's Bank of China (PBOC), CCTV reported on Friday, they “will keep the Yuan basically stable.”

Additional takeaways

Will firmly prevent foreign exchange overshooting risks.

Will deepen exchange rate market-oriented reform next year, strengthen exchange rate expectation management.

Will vigorously respond to external shocks.

Will increase treasury bond buying and selling operations.

Will provide sound liquidity environment for govt bond issuance.