By JC Collins
The original timeline for the announcement from the International Monetary Fund on the inclusion of the Chinese renminbi in the Special Drawing Right basket was scheduled for November 15th. A delay of a few weeks is taking place with the expected announcement now scheduled to take place on November 30th.
The delay could potentially be connected to some further currency moves by China in the lead up to the decision. Let’s also keep in mind the others dates which are circulating around that time-frame:
- The IMF will implement a bypass of the US Congress and Plan B quota and governance reforms by December 15th.
- The Fed is targeting an interest rate increase on December 16th. The odds of such an increase is building.
- The start of the AEC trade agreement begins on January 1, 2016.
The addition of the RMB to the SDR will correspond with interest rate increases as the whole international monetary system begins to shift towards the multilateral.
Readers are recommended to read the following posts to gain further insight on the relationship between interest rates, USD depreciation,
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