(Corrects to 'reserve requirement ratio' (RRR), not 'reverse
repo rate', in second paragraph)
BEIJING, March 3 (Reuters) - China will keep the yuan
exchange rate "basically stable" this year, Yi Gang, governor of
the central bank, said at a press conference in Beijing on
Friday, adding that volatility will be market-driven.
Yi also said that using the reserve requirement ratio (RRR)
to release long-term liquidity will still be an effective tool
to support the economy, and that China's real interest rate is
currently at an appropriate level.
(Reporting by Kevin Yao and Joe Cash; Editing by Edmund
Klamann)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.