pboc says no  basis for yuan constant devaluation . zhang
 pboc to maitain normal movemnt of yuan Exchange rate

Es torna ai livelli pre seconda svalutazione
andremo a chiudere i gap lasciati sugli indici europei ??


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In a rare press conference this morning, the People's Bank of China vowed to keep the renminbi stable following a 3 per cent slide in the currency this week. The bank's vice governor said reports that it wanted to see the currency depreciate by 10 per cent were "groundless".

The statement appeared to have the intended effect, with the renminbi only 0.33 per cent weaker than yesterday, versus a fall of nearly 1 per cent before the press conference. (fastFT)