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Moody's has suggested that "renminbi..........>

CHINA
CHINA: Moody's has suggested that "renminbi depreciation will not affect China's
credit profile for now, but the currency will show greater volatility over
time." the ratings agency went on to note that "China's FX reserves provide
ample buffers to temper the volatility in the yuan," although, over the longer
term it expects "greater volatility, as China's current account gradually shifts
into a structural deficit." As a results Moody's expects that the "Chinese
authorities will likely continue to develop policy tools to adjust to a more
volatile currency."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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