Ex-PBOC Governor Zhou: China still has room for further rate cuts but …
|Reuters reports the latest comments from the former People’s Bank of China (PBOC) Governor Zhou Xiaochuan, as he says that China still has room for further rate cuts.
However, he adds that he is unclear whether that can effectively avert a potential financial crisis.
The headlines failed to impress the Yuan markets, as the Chinese currency remains under pressure vs, the US dollar near three-week lows. USD/CNY hit multi-week highs of 7.0450 in the opening trades before receding to now trade near 7.0390, still up 0.10% on the day.
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