‘Seismic' renminbi internationalisation has a way to go, says RBA deputy

China still has a way to go before renminbi truly ‘internationalised'

Philip Lowe

The internationalisation of the renminbi and further liberalisation of China's capital account "could turn out to be one of the really significant events in global capital markets", with the "potential to create a seismic shift in the international monetary and financial landscape", according to Reserve Bank of Australia deputy governor Philip Lowe.

Speaking today at the Centre for International Finance and Regulation's conference on the internationalisation of the renminbi, Lowe said two key

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