BOFIT Viikkokatsaus / BOFIT Weekly Review 2016/07
It was somewhat surprising how strongly the interview emphasized the role of speculators in the PBoC’s communication strategy, as messaging intended to influence speculative behaviour easily leads to overall confusing signalling. The views on the article on exchange-rate policy and capital movements did little to clarify the short-term outlook, but strongly suggested that China plans to stick with its opening up strategy.