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China Finance Official: China needs to reform its foreign exchange reserves system

Reuters reports comments crossing the wires from an unnamed China’s finance official, with the key headlines found below.

Financial sector faces bubble risks, reflected in the high broad money supply.

China needs to reform its foreign exchange reserves system.

PBOC needs to have an independent monetary policy.

China sets new rules for policy banks to curb risks - RTRS

The China Banking Regulatory Commission (CBRC) said in statements late-Wednesday, it framed new rules for the country’s three policy banks to help rei
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GBP/USD - Eyes range breakout, lead indicators say UK retail sales may miss estimates

From Nov, 7, the GBP/USD pair has been restricted largely to a narrow trading range of 1.31 to 1.32. Occasional dips below 1.31 have been short-lived,
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