FX VOICE: When China will end "normal" FX intervention
China’s central bank said it will “basically” end normal intervention in the currency market and broaden the renminbi’s daily trading limit, but no time frame was given. How soon can this happen and what are the implications to the renminbi? CT asks the experts
Louis Kuijs, chief China economist, Royal Bank of Scotland (pictured):
The comments of Governor Zhou Xiaochuan of the People’s Bank of China (PBOC) in a "Guidance Book" following the Third Plenum seem to have injected fresh hope into the financial community that China would soon be making the exchange rate more flexible. In our view, the renminbi will be freed up, but now is not the time.
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