New deflation scare risk in Chinese devaluation moves

Wed, 12 Aug 2015

By Pattrick Smellie Aug. 13 (BusinessDesk) - China's move to lower the value of its currency looks likely to further depress weak global prices for a range of commonly traded commodities, says economist Andrew Hunt of Hunt Economics. Hunt, who is an adviser to a range of global financial institutions and investment houses, including in New Zealand, says this week's surprise action by the People's Bank of China to change the way it calculates the daily 'fix' for the renminbi (RMB), or yuan as it is also commonly known, may also follow a b...

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