The People’s Bank of China fears cutting the banks’ reserve ratio will cause the yuan to weaken further. Photo: AFP
Leaked memo reveals China central bank’s dilemma in battle to keep yuan stable
A confidential letter from the central bank to commercial lenders reveals the struggle between conflicting goals of easing monetary goals and protecting the value of the yuan
Topic |
China economy
The People’s Bank of China fears cutting the banks’ reserve ratio will cause the yuan to weaken further. Photo: AFP
