The 21st Century Business Herald reporting on remarks from Guan Tao, a former official of SAFE (State Administration of Foreign Exchange)
China has more leeway to pursue monetary policy goals
- Because the yuan's exchange rate has stabilized this year
- And improved forex reserves
Also comments from Ding Zhijie, a researcher at the University of International Business and Economics in Beijing
- More room in monetary policy makes reserve ratio cut an option
- Yuan depreciation pressure eases
- Chinese companies should get used to two-way movements of yuan exchange rate
via Bloomberg
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Just on the "two-way movements" comment .... there hasn't been any of that the past two weeks or so as the CNY has been jacked higher each day by the People's Bank of China. Maybe the comment is signalling an easing back of that strength?
We'll soon see ... USD/CNY mid rate setting due in about 10 minutes ... stay tune
