50 basis points of the Federal Reserve's expected interest rate cuts are deemed to have room for Chinese monetary policy. Pan Gongsheng, president of the People's Bank of China, said that as China ’s domestic and foreign monetary policy cycle is different, the RMB exchange rate is basically stable, and external pressure is obvious.Reduce.
According to the news of the National New Network, a press conference was held on Tuesday (September 24) of the State Council of the State Council. Pan Gongsheng said at the meeting that as the monetary policy of major economies entered the interest rate reduction cycle, the US dollar appreciated momentum of kinetic energy energyWeakened, the depreciation pressure of the RMB exchange rate was significantly relieved, and it turned to appreciate.
He pointed out that the exchange rate of the RMB against the US dollar on September 23 was about 7.05, and it has appreciated 2.4%since August.
But Pan Gongsheng pointed out that the exchange rate is a kind of comparison relationship between currency, which affects diverse factors. From the perspective of external factors, the geopolitical changes such as economic trends and the US elections have changed.Determination still exists; from the perspective of the domestic situation, the RMB exchange rate has a stable and solid foundation.
He emphasized that the central bank's launch of strong monetary policy will help support the economy, promote consumption and investment, and the economic backbone will further consolidate and enhance.
Pan Gongsheng calls on market participants to view the exchange rate fluctuation rationally.The RMB exchange rate is at a reasonable and balanced level.
The Federal Reserve last Friday (September 20) exceeded expected to reduce interest rate cuts 50 basis points. The US dollar index fell 0.3%to 100.592 on the day, and non -US currencies, including RMB, generally rose.
