China : PBOC tweaks model guiding Yuan fix to underpin financial stability
Publicada el martes, 30 de mayo de 2017
China : PBOC tweaks model guiding Yuan fix to underpin financial stability
Resumen
On May 26th, the People’s Bank of China (PBOC) announced that, henceforth, it would add a ‘counter-cyclical adjustment factor’ to its model guiding daily USDCNY midpoint fixing. The tweak aims to reduce excess Yuan volatility and curb one-way bets by easing ‘herd behavior’, but risks backpedaling Yuan exchange rate regime to the one prior to the reform in August 2015.
Temáticas
- Etiquetas de Temática
- Análisis Macroeconómico
Autores
Sumedh Deorukhkar
BBVA Research - Economista Senior
Le Xia
BBVA Research - Economista Jefe
Documentos y archivos
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