RBA’s Lowe: Says hopeful yuan clearing bank designated in coming months

RBA’s Lowe:

• Says hopeful yuan clearing bank designated in coming months
• Sees potential for growth in yuan trade invoicing
• RBA has about 3% of net foreign reserves in yuan
• Working with pboc on yuan clearing bank in Australia

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Remarks by Philip Lowe, Deputy Governor, at the RMB Internationalisation Round Table, Sydney