China steps up yuan defence with bond limit guidance 

by DailyBriefers

Business & Finance

Reuters exclusively reported that China’s central bank has asked domestic banks to limit outflows into foreign bonds, the latest in the raft of steps authorities are taking to contain yuan weakness. 

Market Impact

The move is the latest in a raft of recent efforts to make it harder to short the yuan and to prop up the currency against the U.S. dollar. As China’s financial markets suffer losses and heavy outflows, and investors grow impatient at the lack of more forceful action to address the stalling economy, the move also adds to the sense that policymakers see steadying the currency as an urgent task. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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