China Eyes Devaluation
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<i> Reuters</i>
BEIJING — China’s central bank, after devaluing the currency by 21.2% last month, is considering another devaluation of about 10%, banking sources said today.
They said no decision had been reached, but a steep fall in inflation has emboldened central bankers who now believe that a second move on the renminbi would not risk a serious rise in prices.
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