OctaFX | OctaFX Forex Broker
Open trading account

Impact of Yuan devaluation is short term in nature - PBOC

FXStreet (Mumbai) - An official from the People’s Bank of China (PBOC) is now crossing the wires via Reuters, noting that the impact of yuan depreciation is transitory and now is the appropriate time to implement currency market reforms.

Key Quotes:

‘Yuan depreciation is not sustainable’

‘Impact of Yuan devaluation is short term in nature, it is appropriate time to reform currency market’

‘If reform is delayed, the cost of reform would be increased‘
‘Market volatility unrelated to opening of capital account’

‘China is still attractive to international capital’

‘China still has plenty of room to adjust economic policy’

‘Good time for currency reform given Chinese interest rates are falling’

‘China can fully liberalize interest rates as financial institutions already have ability to manage risk‘

Asian stocks trade subdued on Yellen’s 2015 rate hike pledge

Stocks on the Asian bourses trade lacklustre, with no clear direction in sight, as the Asian traders remain wary on Fed Chair Yellen’s hawkish comments, reiterating rate-hike remains on track later this year.
Read more Previous

EUR/USD: USD bulls dominate on Yellen, drops further to 1.1165

The EUR/USD pair keeps falling and now tests lows in the mid-Asian trades, extending its correction from near 1.13 barrier, as the Fed Chair Yellen talked up 2015 rate hike which triggered a fresh USD rally.
Read more Next
Start livechat