Asia: Silent flight

Author: | Published: 26 Jan 2017

Many rumours and news reports have circulated in recent days about the State Administration of Foreign Exchange (Safe) putting a gag order on financial institutions by prohibiting them from attributing new capital control restrictions to the foreign exchange (forex) regulator, and publishing negative forecasts on the yuan's performance.

The saga started when a number of foreign media outlets reported on January 11 that several local and foreign banks had been given verbal instructions to keep the regulator's role in...