You are here

'Impossible trinity' ends in China as PBOC allows freer yuan


IN giving markets a greater say in setting the yuan's level, central bank governor Zhou Xiaochuan is bowing to Nobel Prize-winning economist Robert Mundell's maxim that a country can't maintain independent monetary policy, a fixed exchange rate and free capital borders all at the...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to