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German FinMin - China FX moves a step towards IMF basket inclusion
September 4, 2015 / 10:39 AM / in 2 years

German FinMin - China FX moves a step towards IMF basket inclusion

ANKARA, Sept 4 (Reuters) - German Finance Minister Wolfgang Schaeuble on Friday welcomed China’s near 2 percent devaluation last month, saying it was a step in the right direction towards getting the yuan included in the International Monetary’s Fund’s currency basket.

“China has moved in the direction in currency and monetary policy ... that is necessary if they want to achieve the goal of getting China into the IMF currency basket,” Schaeuble told reporters ahead of a G20 meeting in Ankara.

Turning to low interest rates around the world, Schaeuble said too little liquidity was not a problem, “rather we have the danger of bubbles forming.”

Reporting by Gernot Heller; Writing by Paul Carrel; Editing by Michelle Martin

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