This year may see great changes in the renminbi’s role in the global economy...”
And the yenmay further weaken as Japan may maintain its low interest rates and easing policies in the long term. China’s currency policiesmay be further eased in the newyear, said the report.
“Current currency policy orientations are not well-matched to the demands of the real economy and of the country. Thus liquidity has not yet flowed from the interbank market to the real economy, but instead has entered the stock market,”