Central Bank Adds Liquidity for Third Consecutive Week
After a two week break, China's central bank issued 3-year bills again this week. The bank's open market operations led to a net addition of liquidity of 81 billion yuan, the third straight week of net additions, after 122 billion yuan of bills matured and 41 billion yuan of funds was withdrawn from circulation.
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China Business News
http://finance.sina.com.cn/roll/20110603/01399940431.shtml
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China may widen the yuan’s trading band in the “next few weeks” as policy makers favor a more flexible exchange rate to combat inflation, according to Standard Chartered Plc.
The range may be widened to allow the currency to trade as much as 1 percent on either side of a daily fixing set by the People’s Bank of China, currency strategists Callum Henderson and Robert Minikin wrote in a research note today. It was last widened to 0.5 percent from 0.3 percent in May 2007.
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