March 06, 2009

China Central Bank Says Currency Policy "Needs No Changes"

In response to a reporter's question at a confab at the sidelines of this year's National People's Congress, Chinese Central Banker Zhou Xiaochuan said Beijing's policy on Renminbi "needs no changes". When pressed Zhou said:

"The question should be raised to some countries where the financial crisis originated from: what's going to happen eventually on your side?" We have to make multiple plans and analyze various scenarios since there is obviously great uncertainty on their side..."

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