The People’s Bank of China (PBOC) should pay close attention to the large short-term capital inflows and the rapid yuan appreciation, said Sheng Songcheng, former Head of the Statistics Department at the central bank while addressing a wealth management forum on Thursday. Key quotes “China’s exchange rate regime does not need to be fundamentally changed, but the country should closely monitor large short-term capital inflows and the risk of a rapid yuan appreciation.” “Large short-term capital inflows could raise imported inflationary pressures and push up domestic asset prices.” Market reaction The yuan has risen more than 6% from the May lows against the dollar. At the press time, USD/CNY rises 0.36% to 6.7770, courtesy of the upbeat Fed economic assessment. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Senior US official to visit Taiwan this weekend amid China concerns – Reuters FX Street 1 year The People’s Bank of China (PBOC) should pay close attention to the large short-term capital inflows and the rapid yuan appreciation, said Sheng Songcheng, former Head of the Statistics Department at the central bank while addressing a wealth management forum on Thursday. Key quotes “China's exchange rate regime does not need to be fundamentally changed, but the country should closely monitor large short-term capital inflows and the risk of a rapid yuan appreciation.” “Large short-term capital inflows could raise imported inflationary pressures and push up domestic asset prices.” Market reaction The yuan has risen more than 6% from the May… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
