China may need to dig deeper into its policy kit to arrest a slide in the yuan, if it is serious about quashing pessimism toward the managed currency.
China may need to dig deeper into its policy kit to arrest a slide in the yuan, if it is serious about quashing pessimism toward the managed currency.
The People’s Bank of China set a stronger-than-expected reference rate for a third time this week on Thursday, but it failed to prevent the yuan from extending a seven-month low. The currency has come under increasing pressure against the dollar amid mounting evidence the country’s economic recovery will be slower than anticipated and any stimulus modest.
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