More on the fall in China's fx reserves: It marked the first quarterly decline since the Asian...

|By:, SA News Editor

More on the fall in China's fx reserves: It marked the first quarterly decline since the Asian financial crisis in 1998. The drop of $20.5B compares to an average quarterly gain of $160B over the last 5 years. Not having to deal with that, the PBOC is going to have to alter a monetary policy that is built around having to recycle billions of (mostly) greenbacks every month.