Yuan continues to hover within a tight 1 per cent band

While the United States and other nations review various austerity proposals and automatic spending cut provisions, officials in Hong Kong are proposing stimulus programs for the local economy.

John Tsang, the financial secretary of Hong Kong, presented a budget on Wednesday that includes a long list of one-time subsidies, a waiver of business registration fees, and a reduction in the profits tax. These measures should lead to more growth, but will they impact the value of the yuan? China’s yuan has continued to hover within a 1% band, either side of its moving average.

via Business feed http://www.scmp.com/business/money/money-news/article/1166549/yuan-continues-hover-within-tight-1-cent-band