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Dr Phil Lowe, RBA, launches report on Renminbi Internationalisation

The internationalisation of the renminbi could be as transformative for global capital markets as the opening up of China's borders was for the global trading system, says Reserve Bank of Australia Deputy Governor Philip Lowe.

Talking to the Centre for International Finance and Regulation conference in Sydney last week, Dr Lowe said the renminbi's internationalisation “has the potential to create a seismic shift in the international monetary and financial landscape".