HKMA's Yam says yuan likely fixed for long time

Joseph Yam, chief executive of the Hong Kong Monetary Authority, said in a speech that China is unlikely to relax controls that keep its currency tied closely to the US dollar until after it manages a soft landing for its overheated economy.

Click here to read the speech by Joseph Yam on the HKMA's website

"Even though flexibility in the renminbi exchange rate is the declared intention, I don't think you'll see it until after this soft landing is achieved because it's a long-term issue," he said

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.