World & BusinessChina’s central bank warns against currency-market ‘herd effect’ as yuan rises
Caixin reports that the warning against the “herd effect” and irrational expectations in foreign exchange was a first for the bank’s quarterly policy meeting.
TLDR
China’s central bank cautioned against the “herd effect” and irrational expectations as the onshore yuan continued its steady appreciation against the U.S. dollar, Caixin reports. The outlet also describes a sharper focus on countercyclical stimulus in the bank’s quarterly policy statement.
China’s central bank warns against currency-market ‘herd effect’ as yuan rises
Caixin reports that the warning against the “herd effect” and irrational expectations in foreign exchange was a first for the bank’s quarterly policy meeting.
TLDR
China’s central bank cautioned against the “herd effect” and irrational expectations as the onshore yuan continued its steady appreciation against the U.S. dollar, Caixin reports. The outlet also describes a sharper focus on countercyclical stimulus in the bank’s quarterly policy statement.