China Largely Ended Currency Intervention, Central Bank Chief Says

The video discusses Egon's rare appearance in Washington for IMF and World Bank meetings, where he highlighted the PBOC's reduced intervention in the yuan. Although not freely convertible, the yuan is primarily market-driven. Egon emphasized the PBOC's policy to ease yuan use for Chinese households, allowing exchanges up to $50,000 annually. The US-China exchange rate is stable, but the US criticizes China's lack of transparency in managing it.

What was the main focus of Egon's speech at the Peterson Institute?

• The PBOC's complete withdrawal from the yuan market

• The PBOC's new currency exchange limits

• The yuan's market-determined value with some intervention

• The yuan becoming freely convertible

What is the primary goal of the PBOC's policy for the Chinese yuan?

• To increase intervention in the yuan market

• To make the yuan freely convertible

• To increase the ease of use for Chinese households

• To limit foreign currency exchange

How much foreign currency can Chinese households exchange annually according to Egon?

• $10,000

• $25,000

• $100,000

• $50,000

What did Egon say about the US-China exchange rate?

• It is causing large capital flight

• It is largely in equilibrium

• It is heavily manipulated by the US

• It is highly volatile

What criticism has the US Treasury made towards China regarding its exchange rate management?

• Lack of transparency

• Excessive transparency

• Lack of intervention

• Overvaluation of the yuan