EFTA Document EFTA01459005

6 December 2015 Update: China Monthly: Rising challenges will trigger more policy easing in 2016 SDR basket •USD •EUR EWA a GBP JPY 100 11 80 60 40 20 9.4 823 rules need to be revised to facilitate trading. This will take time, but we have no doubt it is doable. We maintain our view that the Chinese government will not allow sharp RMB depreciation in the rest of the year. As the market expectation for December rate hike heightens, RMB depreciation would cause high volatilit