China To Widen Trading Bands For Yuan
CURRENCY NEWS
The People's Bank of China, the PRC central bank, is to widen trading bands for the yuan this year, according to Ta Kung Pao, a Hong Kong newspaper, on February 24.
In a later interview with Reuters, a central bank official confirmed that the bank had been looking at a wider band for several years but said no timetable had been set.
Reaction by economists has been mixed. Some believe that the widely touted talk of a devaluation of the yuan has been a red herring and a revaluation is more likely.
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