But Kevin Lai
Last quote by But Kevin Lai
Against a backdrop of capital outflows, fixing the yuan to the U.S. dollar at a certain level will require constant foreign-exchange intervention. Intervention involves selling U.S. dollars in exchange for its own money. When a central bank buys back its own money, there is a contraction in its monetary base or high-powered money, which is essentially a massive monetary tightening.feedback
The latest quote from But Kevin Lai is: “The only way to avoid this tightening is to stop interventions or at least scale them down. That approach instantly leads to currency depreciation.”. It comes from the Why China’s currency could get wobbly article. You’ll find on this page 1 article with But Kevin Lai quoted on topics such as U.S. and intervention. But Kevin Lai has been quoted 2 times in 1 article.
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