A delivery man takes a break near a mural displaying world currency symbols on the outside a bank in Beijing on July 20. China’s central bank confirmed that the “counter-cyclical factor” mechanism has been reintroduced to ease downward pressure on the yuan. Photo: AP
Hao Zhou
Opinion

Opinion

Macroscope by Hao Zhou

As China’s central bank props up yuan, the risk of depreciation falls

Hao Zhou says while history and recent moves by the People’s Bank of China indicate that the country will prop up the yuan, the currency is unlikely to appreciate significantly in the near term

TOP PICKS

A delivery man takes a break near a mural displaying world currency symbols on the outside a bank in Beijing on July 20. China’s central bank confirmed that the “counter-cyclical factor” mechanism has been reintroduced to ease downward pressure on the yuan. Photo: AP
READ FULL ARTICLE