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China: PBoC tightens CNH liquidity - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at ANZ, notes that the PBoC announced reserve requirement ratios for overseas banks’ RMB deposits placed onshore.

    Key Quotes

    “While the longer term aim is to establish a mechanism for the PBoC to manage liquidity, the
    near-term objective is to tighten liquidity and deter speculative positions in CNH.

    We believe the authorities will be able to keep the RMB steady in the near term. But pressure on the currency will remain, given growth and deflation risks facing the economy.”
    For more information, read our latest forex news.
     

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