Reserve Bank of Australia calls for China float

Reserve Bank of Australia governor Ian Macfarlane has added his voice to international pressure on China to float the yuan, arguing in a speech that it is in China's interest for the currency to rise.

In the speech to the Chinese Academy of Social Sciences in Beijing, Macfarlane said: 'the combination of rapid economic growth, a fixed exchange rate and persistent current account surpluses is not sustainable into the medium term and it is in the domestic interest of a country in this situation to

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