CENTRAL BANK ALERTS

CENTRAL BANK ALERTS

Renminbi Fall To Highlight New China CB Policy

CHINA--Central bank watchers say the recent fall of the renminbi--which bounced back last Thursday from the 28-month low of just below RMB8.28/US$--will signal a new approach by the Chinese monetary authorities to future levels of the renminbi.

Although central bank officials sought to make light of the unusual trading pattern--claiming a momentary lapse in central bank vigilance--analysts question whether it is credible that the People's Bank of