Wu Yi Quotes

As for when to reform the yuan, there is no timetable yet.

Currency pegs force a common policy on countries…

We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control.

A flexible exchange rate is important, and it shouldn't be artificially restrained because of the needs of the economy.

We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.

Turkey does not have an official exchange rate target.

Since we don't use any type of currency manipulation schemes - we have a floating exchange market - we are very glad to consider any type of process that would stabilize the Mexican peso.

If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.

Well, I make a practice of not commenting on the role of the relative exchange value of our currency.

After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.

Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates.

It does not mean of course that the pound here in Britain in your pocket has been devalued .

I think that many central banks and financial authorities understand that any long term attempt to compete through an artificial depreciation of their currency will not be very effective in the long term.

The euro is a hybrid of a fixed exchange-rate regime, like the 1980s ERM or the 1930s gold standard, and a state currency.

Even the National Bank of Romania doesn't have the huge resources needed to intervene in the market and keep the leu at an acceptable level, because they're drawing close to a floor below which the bank's reserves can't drop. The central bank has to wait for a moment of calm to efficiently conduct its interventions.

I don't have a shred of regret about entering the exchange-rate mechanism.

I don't know anyone else on Wall Street who ever conducted a major currency reform. Or for that matter, who established a government.

We need to adopt a new currency. It doesn't matter what or how we call it - lira, sterling, Roman sesterce.

I am advocating a weak yen to a certain extent.

We are still keeping, as much as we can to the one million commitment that we made, hoping that at a certain point in time, the headwinds represented by the strength of the yen will be a little bit less strong.

My theme this evening is that America needs a competitive dollar.

Devaluations are never easy.

We've got to make greedy banks pass on interest rate cuts in full, and we've got to see rents coming down.

We have to change economic policy: create confidence, foster investment, cut the public deficit, restructure taxation and reform the labor laws.

The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.