BarCap forecasts mid-year RMB peg change
"We expect initial reform to the RMB peg will take place by the middle of this year, and there will be a modest widening of the USD/RMB volatility band, from the current +/- 0.3% to +/- 5%," said Desmond Supple, head of Asia research, at the conference.
Supple said such an adjustment will not have a significant impact on Chinese export or import demand, although a likely 5% strengthening of the RMB will reduce imported inflation at the margin.
He added that FX reform requires that the government
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