PBoC to keep RMB stable

BEIJING, July 7 (Xinhua): China's central bank said on Monday that it will try to keep the rinminbi exchange rate largely stable in equilibrium.

The People's Bank of China (PBoC) made the remarks in a statement released after a quarterly meeting, during which the central bank discussed the current economic situation in China and abroad.

The PBoC said it will advance market-oriented interest rate reform and deepen reform in rinminbi exchange rate formulation, according to the statement.