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Former China SAFE official says PBOC has more tools if speculations emerge in FX market

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Remarks by former China SAFE official, Guan Tao

  • PBOC RRR hike to freeze $20 billion of liquidity

The comments are interesting as it could allude to the fact that perhaps the latest move by the PBOC isn’t quite a one-off and they would be happy to quell further yuan strength from hereon. But we’ll have to wait and see to be sure of that.

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