The middle price of the renminbi implies that the Bank of China may restart the ＂coun

U.S. media reported that the RMB's median price against the US dollar was less than expected on Tuesday (June 27). Analysts doubt whether the central bank has restarted a high -voltage method to support the RMB exchange rate.Since the beginning of this year, the yuan has fallen by nearly 4.4%against the US dollar.

According to the Wall Street Journal, the People's Bank of China will be located at the shore to USD $ 1.2098 at the shore against the US dollar at a medium price of RMB $ 1.This intermediate price means the weakest level of the RMB exchange rate in the shore.The People's Bank of China recently lowered a series of benchmark interest rates, including loan interest rates for families and enterprises, but these interest rate cuts have limited impact on China's false economic recovery.

The mid -RMB median price is higher than the expectations of many market participants, and cannot be explained with the overall trend of the US dollar.

The report quoted HSBC foreign exchange strategist Chen Jingyang said that people have speculated that the People's Bank of China may re -introduce the "counter -cycle factor" in the intermediate price quotation model of the RMB against the US dollar exchange rate on Tuesday.

"Adverse cycle factor" is a tool for adjusting as appropriate. The People's Bank of China will introduce the "counter -cyclical factor" in the daily exchange rate quotation model of RMB against the US dollar exchange rate.The last time the People's Bank of China used this tool was in November last year, when the RMB on the shore fell to $ 1 against RMB 7.30.

Wu Kun, director of the Asian research director of the Australian and New Bank, analyzed that if the People's Bank of China used the "inverse cycle factor" on Tuesday, this may be a signal, indicating that the Chinese government is becoming more and more disturbed by the weakening of the RMB, hoping to curb it to curbLive in the decline of the renminbi.

Yi Gang, the president of the People's Bank of China, said in March that as part of the efforts to promote the internationalization of the RMB, the Bank of China intends to gradually reduce intervention in the exchange rate of the RMB.