Deputy governor of China's central bank offers assurances and a plan for currency convertibility. While the RMB capital market has seen its pricing advantage ebb away, analysts expect it to open up.
The People’s Bank of China wavered on the renminbi’s fixed rate in the first week of 2016, leaving many puzzled as to its stance on the currency and questioning the transparency of its policies.
The IMF could announce this week whether it wants to add renminbi to the special drawing rights basket of currencies. Some banks are betting that China has done enough.