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Central bank drops “cautious” from pronouncements on currency’s internationalisation
More assertive language from the People’s Bank of China on renminbi internationalisation suggests a policy shift from the central bank, an economist tells FX Markets’ sister title Central Banking.
The PBoC said on October 24 that it would push for renminbi internationalisation over the next five years while pursuing monetary policy that promoted stable growth. Its statement came in response to a summary of the country’s fifteenth five-year plan published on October 23 by the Chinese Communist
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