China central bank governor refutes exchange rate noise

China central bank governor Zhou Xiaochuan says there's too much controversy over China's currency which isn't helping the situation.

Zhou says there can be discussions on the issue over what kind of global policy combinations could help each other but too much argument is not helpful. He made the comments on the sidelines of the Inter-America Development Bank's annual meeting. Zhou says US policy makers are under pressure at home, as unemployment remains high despite signs of recovery in the economy but it's a very complicated issue. This is the latest reaction from Chinese officials, who have repeatedly kept a hard position on the yuan's exchange rate.

Zhou said, "We can discuss this issue as to what kind of global policy combinations could help each other, but we do not think too much noise is helpful."

"US policy makers are under pressure at home, as unemployment remains high despite signs of recovery in the economy. But this is a very complicated issue."

China central bank governor Zhou Xiaochuan says there's too much contro- versy over China's currency which isn't helping the situation.