Some analysts said Monday’s move by the People’s Bank of China (PBOC) was likely to have only a marginal impact, and yuan appreciation would continue. Photo: Bloomberg
China moves to slow yuan’s rise as concerns rise over hot money flows, asset bubbles
- People’s Bank of China raises the reserve requirement for banks’ foreign exchange deposits to 7 per cent from 5 per cent
- But analysts say move likely to have only temporary effect to slow yuan’s rise and will not alter long-term appreciation trend
Some analysts said Monday’s move by the People’s Bank of China (PBOC) was likely to have only a marginal impact, and yuan appreciation would continue. Photo: Bloomberg
