China's Yuan falls to lowest level since 2008 global financial crisis

Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish approach to monetary policy in order to stimulate growth. Also in this edition, we look at the IMF's criticism of the UK's new tax-cutting fiscal policy.

Sep 28, 2022 - 12:40
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China's Yuan falls to lowest level since 2008 global financial crisis
Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish approach to monetary policy in order to stimulate growth. Also in this edition, we look at the IMF's criticism of the UK's new tax-cutting fiscal policy.
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