China RMB band move likely to be first of many

Author: | Published: 17 Apr 2012

Lawyers have predicted China’s central bank decision to widen the renminbi (RMB) trading band against the US dollar will prompt a continued and gradual loosening of trading band widths. 
The People’s Bank of China (PBOC) announced on April 13 it was doubling the interbank foreign exchange market trading band of RMB against the US dollar, to 1% from 0.5%. It is the largest band widening, and has been widely seen as a step towards...