(Bloomberg) -- The yuan rose to the highest since
the end of a dollar link in July 2005 after a government report
showed the economy expanded at the fastest pace in 12 years,
adding to speculation China will pursue faster gains to curb
inflation.
``The central bank will, in an appropriate way, guide the
yuan to faster appreciation,'' said Li Huiyong, an economist at
Shenyin Wanguo Research and Consulting Co. ``China definitely
needs to tighten its monetary policy, both allowing yuan gains
and higher interest rates.''
Read more at Bloomberg Currencies News
the end of a dollar link in July 2005 after a government report
showed the economy expanded at the fastest pace in 12 years,
adding to speculation China will pursue faster gains to curb
inflation.
``The central bank will, in an appropriate way, guide the
yuan to faster appreciation,'' said Li Huiyong, an economist at
Shenyin Wanguo Research and Consulting Co. ``China definitely
needs to tighten its monetary policy, both allowing yuan gains
and higher interest rates.''
Read more at Bloomberg Currencies News
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