Central Bank: RMB exchange rate will not do full-year forecast

3 月 11 日 上午 10 45PM, the Fourth Session of Eleventh National People’s Information Centre in Media Center multi-purpose hall at the theme of “monetary policy and financial issues “press conference. The picture shows the People’s Bank of China Governor Zhou Xiaochuan. (Xinhua Wu Brasenia photo)

People’s Daily Beijing March 11 (Xinhua People’s Daily reported that the front group) 10:45 today, the Fourth Session of Eleventh National People’s Congress Centre “currency policy and financial issues “press conference. People’s Bank of China Governor Zhou Xiaochuan said in answer to a reporter’s question, from the central bank’s point of view, not as an economist or investment bank to make the RMB exchange rate forecasts.

said the Southern Metropolis Daily reporter’s question: Will Zhou, let’s investment banking institutions are forecast to reach about 5 percent appreciation of the RMB, how do you see? Also on the interest rate market can you please talk about the issue.

Zhou Xiaochuan said, there are investment banks can do economists predict, but we are on exchange rate policy or the old saying goes: the basis of market supply and demand with reference to a basket of currencies, to keep RMB exchange rate basically stable at an adaptive and equilibrium level. Meanwhile, beginning in June last year to further promote the exchange rate reform is to increase the flexibility of the exchange rate. We are in the external conditions are not fully aware of the circumstances, such as market supply and demand, supply and demand can not say a year now mastered, not say a basket of currencies, such as the euro against the U.S. dollar, changes in the yen against the U.S. dollar year case you have already mastered. Therefore, from the central bank’s point of view, we will not say what happens a year.

Zhou Xiaochuan said that for the interest rate market, in a magazine’s annual meeting, I specifically made a speech, have been talked about, if you have specific questions, you can mention.

(edit: SN020)