The People’s Bank of China (PBOC) Governor Yi Gang said on Friday that the country’s financial markets are not immune to external shocks.
He added that the “covid situation also put more pressure on China’s economy,” and, therefore, they will provide more support for the real economy.
Additional quotes
The PBOC will maintain price stability.
Will keep policy accommodative, steady.
Ready to unveil more policy steps.
Market reaction
USD/CNY rallies hard to renew fresh six-month highs at 6.4572 on hawkish Fed Chair Jerome Powell’s speech, which put a fresh bid wave under the US dollar.
Meanwhile, AUD/USD is pressured to test 0.7350, down 0.15% on the day, as of writing.
