Saturday, April 10, 2010

China may raise rates soon, revalue yuan by Oct

China might increase interest rates as early as this month, but Beijing will probably not resume yuan appreciation as soon as that, a senior government economist said on Friday.

Another one-off currency revaluation looked unlikely, said Zhu Baoliang, chief economist at the State Information Center (SIC), a think-tank that comes under the National Development and Reform Commission, China's powerful planning agency.

"I believe a band widening is possible but another one-off revaluation is unlikely. The yuan might be pegged to a basket of currencies," he told Reuters. (more)

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