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

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The People’s Bank of China fears cutting the banks’ reserve ratio will cause the yuan to weaken further. Photo: AFP
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