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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI POLICY: China Should Keep Market-based FX: PBOC Research
China's central bank should maintain the market-based yuan exchange rate formation and optimise financial resource allocation to enhance FX rate flexibility and allow fluctuations at stable levels, according to a research report by researchers of the monetary policy department of the People's Bank of China on Thursday.
China should continue to increase the reflexibility of exchange rates to cushion external instabilities and uncertainties, the researchers said. It is important to keep yuan policies autonomous, and to focus on the domestic circulation.
China should refrain from normalised interventions in the FX market and focus on steering expectations to avoid herding effects, the report read.
The report affirmed a managed exchange rate regime, referenced on the currency basket and movements based on market demand and supply.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.