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China May Further Tighten CapFlow: Newspaper Cites Ex-PBOC Advisor

MNI (Beijing)

China may tighten controls over foreign exchange again if capital outflow increases following expected U.S. rate hikes, Beijing News reported citing Huang Yiping, a former monetary advisor at the People’s Bank of China and now a professor at Peking University. The expected rate hikes by the U.S. Federal Reserve may exert the same pressure on China as other emerging markets, including capital outflow, currency depreciation, rising rates and falling asset prices, Huang said. China still has policy space relative to other central banks grappling with inflation, including possible interest rate cuts, Huang was cited saying.

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