China to maintain its exchange rate policy
Chinese Finance Minister announced that the country will maintain its current exchange rate policy unless there is an increase in economic imbalances. It is reported that important amendments to the exchange rate system could create the risk of triggering an economic hard landing, which could have an adverse impact on countries largely dependent on Chinese demand for their exports. China's currency has been pegged at around 8.28 Yuan against the US Dollar since 1997-98.