(Reuters) – China’s central bank said on Sunday it would keep the yuan at a reasonable, basically stable level, and that there will be no one-off revaluation, after the government said it would make the currency more flexible.
China said on Saturday it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week’s G20 summit but will not quickly yield a big move by its currency.
(Reporting by Huang Yan and Ben Blanchard; Editing by Simon Rabinovitch)