China|PBoC’s exchange rate reform is to usher volatility but not sharp RMB depreciation
Publicada el martes, 11 de agosto de 2015 | Actualizada el domingo, 13 de mayo de 2018
China|PBoC’s exchange rate reform is to usher volatility but not sharp RMB depreciation
Resumen
Today, the PBoC announced a reform of the RMB exchange rate formation mechanism, seeking to increase the flexibility of the exchange rate. In particular, the daily opening fixing rate of the RMB will be directly formed by market makers, namely 35 large banks designated by the authorities, in China’s onshore FX market instead of being set by the PBoC previously.
Temáticas
- Etiquetas de Temática
- Análisis Regional China
- Análisis Macroeconómico
Autores
Jinyue Dong
BBVA Research - Economista Principal
Le Xia
BBVA Research - Economista Jefe