The onshore RMB exchange rate against the US dollar was 7.2701, and the offshore RMB exchange rate against the US dollar was 7.2938.
To maintain the exchange rate or to maintain growth and employment? Interest rate cuts may lead to pressure on exchange rate depreciation, and not cutting interest rates will lead to economic growth and employment pressure. What should we do in this dilemma?
The monetary policy of a big country is based on itself. By cutting interest rates, it promotes domestic economic growth and employment. The exchange rate depreciates in the short term, but appreciates in the long term. Don't be afraid of depreciation, but be afraid of depreciation expectations. It's better to have substance than to have face. Seek truth from facts and follow the trend. $BTC