Former U.S. Treasury official says more communication from China’s central bank has eased investors’ worries about a weaker yuan
The People's Bank of China has "stressed that there is no intention among Chinese policymakers to engineer a sharp depreciation of the currency," says Charles Collyns, chief economist at the Institute of International Finance. "They understand that any sharp move in the RMB can be disruptive to the global financial environment and have negative spillback on the Chinese economy."
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Oct 24, 2016