Promises From China’s Central Bank Will Do Nothing to Stem Yuan’s Long-Term Fall: Experts

In its latest effort to prop up the faltering yuan, China’s central bank promises to maintain a stable exchange rate.

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China, on Dec. 13, 2021. Andrea Verdelli/Bloomberg via Getty Images

In its latest effort to prop up the faltering yuan, the People’s Bank of China (PBOC) met on Sept. 11 to discuss how to stop the yuan’s rapid slide and arrest speculation, and it promised to maintain a stable exchange rate.

Experts, however, believe that despite the talking up, the currency is slated to weaken further over the next three months, and PBOC measures are unlikely to bring about a lasting turnaround.