LONDON (Reuters) - Bank of England Governor Mark Carney said China needed to make it clearer how it is managing its currency, the Wall Street Journal quoted him as saying on Friday after the yuan's recent sharp swings contributed to volatility in global markets.
"Without question the precise exchange rate policy framework that they are pursuing is not completely understood by all participants and it is in their interest to improve that over time," Carney told the newspaper.
"It is welcome that they have moved toward a basket approach as opposed to a bilateral approach. That is better for the system. It is a better reflection of the realities of their economy."
(Writing by William Schomberg; Editing by Ana Nicolaci da Costa)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 5.31 CNY | +0.09% | -0.43% | - | ||
| 7.908 CNY | +0.01% | +0.57% | - | ||
| 7.268 CNY | +0.13% | -0.06% | - | ||
