Hot Money Inflow Triggers PBoC to Tighten
Hot money flows in due to heightened expectation on RMB appreciation
A Currency War Reminiscent of Great Depression
The villain of the piece, then, is not China, but the US Federal Reserve Board, which has been reluctant to use all the tools at its disposal to vanquish deflation and jump-start employment growth.
Who Will Lose the Currency, and Trade, War?
If nominal and real depreciation (appreciation) of the deficit (surplus) countries fails to occur, the deficit countries' falling domestic demand and the surplus countries' failure to reduce savings and increase consumption will lead to a global shortfall in aggregate demand in the face of a capacity glut.
Shanghai's Seven-day Rally: a Bull Start Running?
this rally has further to run in the coming months, if history is a guide.
Hong Kong: Renminbi Deposits Surge
Genuine expansion in the banking sector balance sheet via further development in the offshore Renminbi business.
PBoC Rate Hike: More Control on Capital Inflow
Impact on RMB is surely positive, though the PBoC will firmly control the pace of RMB-USD appreciation once pressures from US politicians are alleviated. One thing almost surely to happen is that Beijing will impose more capital control measures to curb hot money inflow.
PBoC Rate Hike: Well Received in a Bull Market
The current situation bears more resemblance to that of early 2006, the initiation of a strong bull market.
PBoC Rate Hike: RMB Appreciation Will Continue
This suggests that 3Q GDP growth in 3Q and September CPI inflation-to be released this Thursday-may have also surprised to the upside.
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