IMF's Lagarde says markets need clarity on China currency

January 23, 2016 10:34 AM

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DAVOS, Switzerland Financial markets need more clarity on how the Chinese authorities are managing their currency, particularly the relationship of the yuan to the U.S. dollar, IMF Managing Director Christine Lagarde said on Saturday.

Asked at a panel discussion in Davos whether she would back capital controls by China for a period, she avoided a direct reply but said: "Certainly a massive use of reserves would not be a particularly good idea ... Some of it was already used."

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