Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish approach to monetary policy in order to stimulate growth. Also in this edition, we look at the IMF's criticism of the UK's new tax-cutting fiscal policy.
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China's Yuan falls to lowest level since 2008 global financial crisis
China
International Monetary Fund
US Federal Reserve
Beijing
Fiscal Policy
Monetary Policy
United Kingdom
United States
US Dollar
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