PBoC goes silent on expanding RMB trading band
China’s central bank has not given any indication it will widen the renminbi trading band, as the cabinet instructed last week, which has disappointed market participants.
The People’s Bank of China (PBoC) was mute on the topic of widening the renminbi daily trading band against the dollar in its meeting announcement on August 4. The absence of the trading band in the PBoC meeting seemed to be at odds with an earlier announcement from the cabinet that it would be widened.
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