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PBoC Chief to be replaced?

FXStreet (Bali) - One of the main news making the headlines during the US session was the speculation about People's Bank of China Gov. Zhou Xiaochuan being replaced for a more dovish banker, with the change being attributed to disagreements over fiscal and economic reforms.

As the Wall Street Journal reports: "The personnel shifts are expected around a major party conclave to be held in October, officials said, while cautioning that no final decision about Mr. Zhou has been made."

The WSJ adds that "over the past few months, Mr. Zhou has continued to press for market changes, including liberalizing interest rates; the Chinese leadership, meanwhile, has become concerned that overhauls now will place another burden on an economy that is struggling to meet the government's target of 7.5% annual growth."

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