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China considers changes to yuan midpoint fixing method - statement
May 26, 2017 / 7:35 AM / 7 months ago

China considers changes to yuan midpoint fixing method - statement

SHANGHAI, May 26 (Reuters) - China is considering introducing a “counter-cyclical factor” into the way it calculates the yuan currency’s reference rate each day, the country’s foreign exchange trading platform, overseen by the central bank, said on Friday.

The change in the way the yuan midpoint is set will better reflect supply and demand, lessen possible “herd effects” in the market and help guide the market to focus more on macroeconomic fundamentals, it said. (Reporting by John Ruwitch and Winni Zhou; Editing by Jacqueline Wong)

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