Archive for August 11th, 2015

Deeper Analysis

People’s Bank of China Explains Today’s Historic Actions

August 11, 2015

China’s central bank took giant steps today in the evolution of its monetary policy whose end-point is to give market forces greater determining impact in the country’s financial markets.  Several files of information can be found on the web site, the most useful being in a question and answer format.  One explains the context and […] More

New Overnight Developments Abroad - Daily Update

China Drops Bombshell on Financial Markets

August 11, 2015

The Chinese renminbi was devalued 1.9%, and central bank officials there announced that the currency henceforth would be allowed to reflect market forces to a much greater extent.  Intervention previously had been employed to prop of China’s currency amid weakening exports and lessening overall economic growth.  This change comes just over a year after the […] More