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PBOC Ma Jun: Fundamentals Support RMB Appreciation; Yet USD May Not Weaken Persistently
The Chinese and American central banks opted for different monetary and interest rate policies based on their respective GDP and unemployment data, finance.qq.com cited Ma Jun, Mem...
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PBOC Ma Jun: Fundamentals Support RMB Appreciation; Yet USD May Not Weaken Persistently
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2020/09/21 08:46
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The Chinese and American central banks opted for different monetary and interest rate policies based on their respective GDP and unemployment data, finance.qq.com cited Ma Jun, Member of the Monetary Policy Committee of the People's Bank of China. Meanwhile, the Chinese economic fundamentals underpinned positive interest rates.

The appreciation or depreciation of RMB against USD largely hinges on whether the US or China has stronger economic growth in future, Ma opined.

For the next six months, the monthly recovery of US economy may come faster than China's, Ma measured, who predicted USD may not weaken persistently. He explained the international position of USD was solidified after rather long history, immune from exchange rate volatility within short term.
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