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The Argument for Less Yuan Rigidity

From China's perspective, there is no perfect time to let its currency appreciate -- and policy paralysis on that front could constrain Beijing's ability to raise interest rates to cool off surging bank lending. ...full story at China Journal

from China Journal on Wed, Nov 04 2009

see also:

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15 Feb 08 visit Central bank deliberates interest rate rise  »  People's Daily The central bank is under pressure to raise interest rates to combat price increases, but the international economic situation could influence its decision, an adviser to the bank said yesterday. "Interest rates in China are relatively l ...
23 Dec 08 visit Interest rates cut again to spur growth  »  People's Daily The central bank has rolled out the fifth interest rate cut in four months - in its latest attempt to shore up investment and boost the economy. The People's Bank of China lowered the benchmark one-year lending and deposit rates by 0.27 percentage...
07 May 09 visit No increase in rates, hints PBOC  »  People's Daily The central bank will continue following a moderately loose monetary policy, its quarterly report said yesterday, dispelling speculation that the stabilizing economy could prompt it to raise interest rates. "The central bank will continue to ensure...
26 Nov 08 visit China central bank cuts interest rates by 1.08 percentage points  »  People's Daily China's central bank slashes the lending and deposit rates by 1.08 percentage points as of Thursday in the latest effort to stimulate economy. The People's Bank of China (POBC) announced on Wednesday that as of Dec. 5, it also would lower the...
11 Nov 09 visit WB chief says China's yuan can be alternative reserve currency in 15 years  »  People's Daily With China's growth trend and Beijing's efforts to internationalize its currency, the Chinese yuan can develop into the alternative to the U.S. dollar as a global reserve currency in 15 years, World Bank President Robert Zoellick said Wednesday. ...

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