"We've got the guidance from the superior that we need to lower the dollar deposit rates, and many of our peers have already done so."
This form of capital control isn't new in Chinese banking circles but it's worth noting how Beijing is feeling about the current situation at least. A silver lining in all this is that Trump's tariffs on China have been less harsh than feared, allowing for the yuan to consolidate a fair bit since the end of January.
This article was written by Justin Low at www.forexlive.com. Read More Details
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