ECB easing may lift Chinese exports, squeeze yuan: China central bank official

[BEIJING] The European Central Bank's quantitative easing programme may help to lift China's exports, a senior Chinese central bank official said on Friday.

The European QE programme, coupled with the US Federal Reserve's normalization of monetary policy, may additionally raise depreciation pressures on the yuan while boosting the US dollar, People's Bank of China Vice Governor Pan Gongsheng, said in a news briefing transcript published on the central government's website.

On China's own monetary policy, Pan said the medium-term lending facility, a newly-adopted means of injecting liquidity into the finacial system, would not replace the use of a reserve requirement ratio.

REUTERS