The People’s Bank of China (PBOC) Governor Yi Gang said on Tuesday, “China will lengthen the time for implementation of normal monetary policy.”
Further comments
"Central bank has conditions to keep a normal and upward yield curve."
"See no need to purchase assets now."
Market reaction
Amid the PBOC comments and power supply cuts, USD/CNY stays unfazed around 6.4550, almost unchanged on the day.
