SHANGHAI/BEIJING China's ability to stabilize the yuan in recent weeks despite weak economic data and a further escalation in its trade war with the United States is reinforcing expectations that the central bank will cut banks' reserve ratios again within weeks.
SHANGHAI China's central bank may have to decide soon whether to intervene more forcefully to support the wobbling yuan currency as the United States readies more sweeping tariffs on Chinese goods.
SHANGHAI, Sept 3 China's central bank may have
to decide soon whether to intervene more forcefully to support
the wobbling yuan currency as the United States readies more
sweeping tariffs on Chinese goods.
SHANGHAI China has banned banks in its ground-breaking free trade zones from certain lending activities to ease pressure on the yuan currency in offshore markets, two sources with direct knowledge of the matter said on Thursday.
SHANGHAI China's stock markets retreated on Wednesday as fresh U.S. tariffs and the increasingly heated trade war between the world's two largest economies cast doubt over Beijing's ability to boost its economy through pro-growth policies.
SHANGHAI Major state-owned Chinese banks were seen selling dollars on Friday afternoon in an apparent attempt to put a floor under a tumbling yuan, as the worsening trade dispute between the United States and China drove the currency to a fresh 14-month low.
SHANGHAI/HONG KONG China's uncharacteristically laissez-faire approach to its swiftly declining currency is spawning market speculation that the yuan is part of an economic stimulus toolkit and will be allowed to weaken more over the rest of the year.
SHANGHAI China's yuan finished domestic trade at its weakest in 13 months on Friday, dragged lower by the central bank's midpoint and fears of further depreciation amid Sino-U.S. trade tensions.
SHANGHAI Large state-run Chinese banks sold dollars in the yuan forwards market on Thursday, with their operations causing the future value of the yuan against the dollar to rise sharply, traders said.
SHANGHAI Chinese government bond yields and stocks rose on Tuesday after Beijing vowed to pursue a more 'vigorous' fiscal policy, as authorities stepped up efforts to support growth amid rising economic headwinds.