WASHINGTON, April 15 (Reuters) - People's Bank of China
Governor Yi Gang said on Saturday that authorities can phase out
currency intervention by gradually reducing the amount and
frequency of its forays into the market.
"We have been trying to maintain the exchange rate stable
for some time. If you go on forever, then one day I would say
that markets would defeat the central bank," Yi said in a
seminar during the International Monetary Fund and World Bank
spring meetings in Washington.
(Reporting by Leika Kihara; Editing by Paul Simao)
Messaging: leika.kihara.reuters.com@reuters.net))
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