China technically ready on yuan move - IMF

International Monetary Fund managing director Rodrigo Rato told a press conference China is "technically" ready to adjust its currency and now is the time to move to a more flexible exchange rate mechanism.

However, politics remains a hurdle, Rato said.

"It's the right moment to do it," IMF managing director Rodrigo Rato said at a press briefing in Shanghai after meeting Asian financial executives and institutions. "We are advising the Chinese authorities to take advantage of the current econo