China pledges not to do what it's doing in FX market


PBOC Vows No 'Strong' Stimulus, Says Won't Use Yuan in Trade War

From Bloomberg News
Friday, August 10, 2018

China's central bank said it won't use the yuan as a tool to cope with trade tensions and other external issues, and that it won't conduct any "strong" economic stimulus.

The People's Bank of China won't implement stimulus in "flood-irrigation" style, according to the quarterly monetary policy report released Friday night in Beijing. Prudent monetary policy should maintain neutrality and "keep balance between tightening and easing," indicating a slightly easier bias than it did three months ago. ...

... Dispatch continues below ...


Juggernaut Commences Inaugural Drill Campaign on Its Midas Property

Company Announcement
via Globe Newswire
Tuesday, August 7, 2018

Juggernaut Exploration Ltd. (JUGR.V) reports that it has commenced diamond drilling with the addition of a second rig for the Midas property located near Terrace, British Columbia, Canada. The IP geophysical program on its Midas property is also underway.

Based on new exploration results Juggernaut is ramping up the drilling with the construction of up to 20 pads across both properties targeting multiple new discovery zones with up to three or more holes per pad. ...

Dan Stuart, director, president, and CEO of Juggernaut, says: "The 2018 program is off to a great start and has already exceeded our expectations with multiple new mineralized zones being discovered so early on, further demonstrating the enormous untapped potential of both the Empire and Midas properties. Both properties are 100-percent controlled and located in a world-class geological setting in close proximity to infrastructure. We look forward to reporting drill results once assays have been received, complied, and interpreted." ...

For the remainder of the announcement:

While the PBOC sees risks from rising trade tensions, financial volatility in emerging markets, and global financial fragility, it said it would not competitively devalue the yuan, nor use it as a tool to cope with external shifts such as trade tensions.

Those currency comments show that the bank will take a hands-off approach to the foreign exchange market on normal days, but intervene in the event of any massive fluctuations, chief macroeconomy analyst Zhu Qibing at BOC International China Ltd. in Beijing said. ...

... For the remainder of the report:

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