China's FX regulator out with comments on their website 16 May 2016
- capital outflow pressure eased in April
Confirming my comments re the reduced level of intervention.
- individuals less willing to hold foreign exchange in April
- Chinese economy to operate in reasonable range in near term
- will fundamentally help stabilise cross-border capital flows
"Reasonable range" is their rhetoric mantra, as "virtuous cycle" is that of the BOJ.
