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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (25041)	3/7/2005 1:41:33 AM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

China to Keep Yuan's Peg to Dollar for `Relatively Long Time' March 7 (Bloomberg) -- China plans to keep its currency pegged to the U.S. dollar for ``a relatively long time,'' as the country faces less pressure to let the currency rise because the government is taking measures to slow inflation. China won't let the yuan float freely, Guo Shuqing, head of the State Administration of Foreign Exchange, said in Beijing on March 5. China's Premier Wen Jiabao on the same day said he would keep the yuan at a ``stable'' rate. ``It must be a managed floating exchange rate,'' Guo said. ``That policy will not change for a relatively long time.'' bloomberg.com