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UK central bank ready to set up yuan swap line

<!– google_ad_section_start –> The Bank of England is prepared in principle to become the first G7 central bank to enter into a foreign exchange swap agreement with China, opening the door to another substantial step in moves to liberalise the yuan currency. The bank’s executive director for banking services, Chris Salmon, told a meeting of senior bankers in London that the move was aimed at underpinning a developing offshore market in yuan trade out of London that Britain is keen to encourage. <!– google_ad_section_end –>

Link:
UK central bank ready to set up yuan swap line

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