China hints at looser dollar peg

Centralbanknet report

China's central bank new description of its exchange rate policy may hint at plans to allow greater movement against the US dollar.

The monetary policy committee of the People's Bank made a small addition to the description of their exchange rate policy at its quarterly meeting. Although maintaining the commitment to "maintain the basic stability of the renminbi exchange rate", the new description contains the proviso that currency stability should involve a "reasonable

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