Chinese economists say that the decrease in Chinese foreign exchange reserves reflect the market's remembrance of Fed's tightening expectations.
According to the China News Agency on Tuesday (May 7), official Chinese data show that as of the end of April, the scale of Chinese foreign exchange reserves was US $ 30.8 billion (about S $ 4336.9 billion)At the end of March, it fell 44.8 billion US dollars, a decrease of 1.38%.
Guan Tao, chief economist of China Bank of China, told reporters on the same day that the decrease in Chinese foreign exchange reserves mainly reflects the market's market tightening expectations of the Fed in the same month.The negative valuation effect caused by the "three kills" of the financial market.
Guan Tao said that the just -concluded interest rate conference showed that although the Federal Reserve is inadequate confidence in the interest reduction due to the lack of inflation, it also excludes the possibility of raising interest rates next time.In addition, the new non -agricultural employment data fell sharply in April, and market interest rate cuts are expected to rise again.
Guan Tao pointed out that due to the above, as of May 6, the US dollar index fell 1.2%compared with the end of the last month, the S & P 500 index rebounded 2.9%;The rates fell from 5%and 4.7%at the end of last month to nearly 4.8%and 4.5%.The recovery of the international financial market will produce a positive valuation effect on foreign exchange reserves, which will help Chinese foreign exchange reserves steadily.
