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Impose capital controls to defend the yuan, Kuroda tells China

BOJ chief, IMF's Lagarde say burning forex reserves not a good idea; they also don't expect a hard landing

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In this kind of somewhat contradictory situation capital controls could be useful to manage the exchange rate as regards domestic monetary policy in a consistent and appropriate way, said Mr Kuroda.

Davos

BANK of Japan governor Haruhiko Kuroda said China should impose capital controls to defend the yuan rather than keep burning through currency reserves.

As he and other international policy makers expressed confidence that the world's second largest economy will avoid a hard