Central banks hold nerve after yuan devaluation

August 11, 2015 3:37 PM

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Central banks hold nerve after yuan devaluation

Global policymakers, including those at some of Asia's most intervention-minded central banks, are holding the line on their currency policies after China's surprise devaluation of the yuan .

China's central bank said Tuesday's 1.9 per cent devaluation was a one-off move. It also switched to a more market-determined benchmark for the currency's daily trading band.

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