China’s Central Bank Takes Action to Quell Mounting Inflation Concerns

The onshore renminbi has recently soared to its highest level since April 2018, trading at 6.38 to the dollar as of Wednesday afternoon. (Image: China News Service) 

Officials at the People’s Bank of China (PBOC) announced new measures late Monday night aimed at curtailing growth in the yuan’s value, which has recently surged to its highest level against…