TOKYO (AP) — China’s currency has reached its equilibrium rate and its value is mainly set by the market, rather than intervention, Zhou Xiaochuan, the nation’s central bank chief, said Sunday, signaling that major movement in the renminbi’s value is unlikely soon.

In a speech delivered by Yi Gang, his deputy, Mr. Zhou, governor of the People’s Bank of China, also warned that too much monetary easing by major economies puts inflationary pressure on China as strives to increase growth while controlling prices.

China’s exchange rate against the American dollar has resurfaced in the United States presidential race, with Mitt Romney, the Republican nominee, accusing President Obama of ducking an important decision on whether China is manipulating its currency to gain a trade advantage.

The Treasury Department was to announce a decision Monday, but it said Friday that no announcement would be made until after global finance officials meet in early November, probably after the Nov. 6 election.