164 days ago • Posted by Jasper Lawler

Secret China FX intervention ?

PBoC reserves have been flat since late 2016, even after April 2020, when inflows soared. Net foreign assets of commercial banks, however, have risen. I've discussed this before, but this cool graph shows it very clearly. If I were the suspicious type I'd certainly wonder why. via @michaelxpettis

#Macro
Secret China FX intervention ?
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