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Yuan May Fluctuate From 6.7 To 7.0 Against Dollar: Advisor

CHINA PRESS

The yuan may fluctuate between 6.7 to 7.0 against the U.S. dollar in the near term as the central bank may intervene to prevent any rapid depreciation, wrote Zhang Ming, senior fellow of the Institute of Finance and Banking at the Chinese Academy of Social Sciences in a blog post. Neither inflation nor the currency would be a constraint on the central bank to continue with monetary easing in the short term, as higher inflation is still half a year away, said Zhang. Monetary policy should be looser with rate and RRR cuts to match with fiscal expansion to boost the economy, Zhang added.

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The yuan may fluctuate between 6.7 to 7.0 against the U.S. dollar in the near term as the central bank may intervene to prevent any rapid depreciation, wrote Zhang Ming, senior fellow of the Institute of Finance and Banking at the Chinese Academy of Social Sciences in a blog post. Neither inflation nor the currency would be a constraint on the central bank to continue with monetary easing in the short term, as higher inflation is still half a year away, said Zhang. Monetary policy should be looser with rate and RRR cuts to match with fiscal expansion to boost the economy, Zhang added.