The People’s Bank of China‘s Deputy Governor Wu Xiaoling said that the central bank would allow market forces would determine the exchange rates and interest rates. Xiaoling made these clarifications while speaking to Caijing magazine. The market is speculating the possibility of China announcing another change in the value of the yuan, similar to last July’s 2.1% revaluation, to avert criticism of its currency policy. The announcement is expected when President Hu Jintao visits Washington in April. However, PBOC has repeatedly ruled out another administered change, and has said that the managed float will allow the forces of supply and demand to gradually determine the Yuan’s rate.