129774133139218750_119Over the years, China's monetary policy in the "price stability, full employment, economic growth and the balance of payments," finding the balance between objectives, in the year of major changes in international and domestic economic and financial situation, weigh especially difficult for monetary policy. From the four quarters last year, financial institutions after the modification of Exchange into a mass into the State, reducingOr less trend
tera power leveling, the Central Bank late last year and February this year downward changes in reserve requirements and the factors have a great relationship, it is Zhou xiaochuan, Governor of the Central Bank of the "two sessions" has focused on during the period mentioned. With two-way volatility in the Forex market trend intensified in recent months, unilateral appreciation of the renminbi is expected to occur moved. Analyst: bi-directional exchange rate volatility and expand 20January 12 foreign trade imports and exports worth $ 272.6 billion, fell by 7.8%;, exporting $ 149.94 billion, a drop of 0.5% imports $ 122.66 billion, a drop of 15.3%. Import and export of "double drop" appears again after all these years. Then $ February in export, import 145.96 billion dollars, tradeDeficit of more than $ 31.4 billion, since 10 biggest one-month deficit, resulting in two months before the cumulative deficit of $ 4.25 billion. Central Bank Deputy Governor Yi gang said during the two sessions, both from a fundamental and market observation, is a trade deficit is now close to the equilibrium level of the exchange rate of the Renminbi positive signs is the second since the fourth quarter of last year, the market hasFormed a relatively continuous bi-directional and bi-directional volatility is expected on the Renminbi exchange rate. Enhanced two-way volatility of Renminbi exchange rate flexibility conditions getting more mature. 1 to May this year
tera gold, two-way volatility in currency markets continued. After the February trade deficit figures, foreign exchange markets fell, on March 12, the Yuan central parity rate against the dollar decrease of 209 basis points, 1.5 yearsThe biggest one-day drop since, the spot exchange rate substantially closed down 158 basis points. "There might be in a testing stage of the Central Bank on the market, wider fluctuation test the market recently are acceptable, from the effects of Exchange settlement and sales market is relatively stable, there is no confusion, may be further expanded in the future fluctuation range. "China Merchants Bank (12.13,0.04,0.33%) (Micro-blogging) financial markets senior analyst Liu Dongliang (micro-blogging) on the daily economic news reporter, he said exchange rate market reform's ultimate goal is market pricing and capital convertibility. However, bi-directional wave or trend ending doesn't mean appreciation, for the revaluation process is over, Mr Zhou said "not soSimple ". He pointed out that the Renminbi exchange rate depends largely on the relationship between supply and demand in the market. Global economic imbalances
tera power leveling, China economy itself has a problem of unbalanced, uncoordinated and unsustainable, the calibration process is also not very short. On March 26 the Yuan central parity rate against the dollar at 6.2858, record highs since the currency again. Deposit rates reduced for the time being to hedge foreign exchange"Reserve and hedging foreign exchange liquidity by the Central Bank two water bridle, now foreign exchange investing money in the water pipe may be slightly blocked, then deposit rates will increase the intensity of the release. "Bank of China (2.95,0.01,0.34%) (2.94,-0.01,-0.34%), Deputy General Manager of the Strategic Development Department of MuneyoshiSuch an analogy. He told the economic daily news, reporters, now a stronger Yuan would be a long-term trend, the overall trend in the Yuan will be traded, but it's not too likely devaluation expected, so adjustment of monetary policy at this stage is mainly application tools to lower the deposit rate, if the stage to a devaluation of the Yuan appeared,Stronger regulation tool will appear. In January of this year, despite increase of US $ 140.9 billion of foreign exchange, but by February, growth shrank to $ 25.1 billion, with hundreds of millions of dollars monthly growth gap at every turn. Mr Zhou during the NPC and made it clear that, in a certain period of time, if the balance of payments surplus, the Central Bank bought outMeeting more spit more liquidity, on the need to increase the intensity of hedging, which means increased Bank reserve requirements, whereas lower reserve requirements. CICC latest research believes that current interbank market liquidity is not tight, but pursuant to the Exchange and the changes in liquidity demand, we expect the deposit reserve rate will be lowered this year 2~3Times. Expected annual exchange increment will decline sharply, to more than $ 1.5 trillion. (Each reporter Tanya Wan from Beijing)
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