Bank of China warns speculators

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In an unusual move, the Central Bank of China has posted an English message on its website: “The 2.1 percent adjustment does not mean that the Yuan exchange rate has been appreciated as a first step and that there will be further adjustments.” The message was clearly aimed at speculators, who continue to pour ‘hot money’ into China, in anticipation of future revaluations. China’s Central Bank has repeatedly tried to stem the inflow of capital, as it must spend billions to sterilize th ... (more)

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Last update: 08/04/2005

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Bank of China warns speculators

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