Small font size A Larger text size A Largest text size A

China's central bank says it is confident it can keep yuan stable

BY Reuters | ECONOMIC | 07:41 AM EST

BEIJING/SHANGHAI, Jan 17 (Reuters) - China's central bank said on Friday it is confident it can keep the yuan exchange rate "basically stable" at a "reasonable and balanced" level.

China's economy has solid foundations and a reasonable current account surplus, while the country's cross-border capital flows are balanced and foreign exchange reserves are sufficient, the People's Bank of China told Reuters.

Foreign exchange market participants have become more mature and regulatory departments have more experience in responding to external shocks, the central bank said, responding to a Reuters request for comment.

(Reporting by Beijing and Shanghai Newsroom Editing by Christina Fincher)

More Fixed Income News

Federal Reserve withdraws from global regulatory climate change group BY Reuters |ECONOMIC 01:49 PM EST
Federal Reserve withdraws from global regulatory climate change group BY Reuters |ECONOMIC 01:36 PM EST
Federal Reserve announces exit from regulatory climate change group BY Reuters |ECONOMIC 01:30 PM EST
ALTA Congratulates Bill Pulte on FHFA Nomination BY PR Newswire |AGENCY 01:10 PM EST

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article