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China’s central bank is considering a range of risks in its currency policy, including a worst-case scenario, Governor Yi Gang said.
As the yuan inches closer to the psychologically important level of 7 per dollar amid rising trade tensions with the US, the People’s Bank of China governor told Bloomberg in an exclusive interview that the Chinese currency is at a “reasonable and equilibrium level.”
“The yuan’s volatility is normal,” Yi said on Sunday in Bali, Indonesia, on the sidelines of the International Monetary Fund and World Bank’s meetings. “The currency has a flexible exchange rate mechanism, which now shows two-way fluctuation.”
“For
