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China Will Not Use Currency Depreciation to Boost Exports: Central Bank

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China is opposed to currency depreciation to boost the country’s exports, central bank governor Zhou Xiaochuan said on Friday, even as latest data showed January exports fell for the seventh straight month.

Zhou, speaking at a central bank press conference on the sidelines of a G20 meeting of central bank governors and finance ministers, also said China will prevent bubbles in its financial markets.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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