BEIJING (AFP) - Chinas central bank warned Friday the global economic recovery could falter this year as developed countries exited their pro-growth policies adopted during the financial crisis. We cannot rule out that the recovery process may reverse due to the exit of expansionary monetary policies, the Peoples Bank of China said in its 2009 International Financial Markets Report. A premature exit could abort the recovery, while exiting too late could trigger inflation and asset price bubbles, creating a potential risk for the future. The central bank report was released as China comes under growing international pressure to let its currency appreciate something it has said it may do once the global economic recovery is on a solid footing. Central bank governor Zhou Xiaochuan in March hinted the policy of effectively pegging the yuan to the dollar in place since mid-2008 could change, saying it was temporary and would be withdrawn sooner or later. Chinas currency policy has riled Beijings trade partners in the United States and the European Union, who say the yuan is undervalued to boost Chinese exports. Another top central bank official said last month uncertainties remained about when Beijing would allow the yuan to appreciate, and it would depend on domestic and global economic conditions. We need to consolidate the economic recovery ... there are still many uncertainties, vice governor Su Ning said. We will seriously study the economic situation inside and outside the country to decide when it would be appropriate.