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ANZ Believe Policymakers Should Allow Greater CNY Appreciation


An ANZ analyst notes that "China needs to spur its domestic demand to get a better balance and more sustainable growth. And this will also help growth in the rest of the world. Allowing CNY to appreciate more is one step in that direction. Authorities are capping the CFETS RMB Index at around 96 at present, preventing yuan from appreciating further. They should let that level go and allow the index to trade in a higher range. There is no evidence that a strong yuan is hurting Chinese export competitiveness."

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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