Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (16907)	11/26/2004 10:01:37 PM
From: RealMuLan	Read Replies (1) of 116555

Currency change seen to cool China inflation By Yumi Kuramitsu Bloomberg News China may relax the yuan's decade-old peg to the dollar by April 1 as the government attempts to slow inflation and cool economic growth, analysts at Bank of America and Merrill Lynch said. Letting the yuan strengthen from the fixed rate of 8.3 per dollar or linking it to a basket of currencies including the euro will reduce import prices, said Uwe Parpart, Bank of America's senior market strategist in Hong Kong. It may also reduce export growth and add to President Hu Jintao's bid to slow investment, which includes banning loans to industries such as autos, cement and steel, and the first interest-rate increase in nine years. seattletimes.nwsource.com

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