On December 2nd, the US Senate passed the tax reform bill with 51 votes: 49 votes on Saturday morning. The bill will become the largest tax reduction bill in the history of the United States. Founder's consolidation of Yang Weizhen said that this will not lead to too much capital outflow, nor will it exert too much pressure on the exchange rate.
He further stated that the pressure on RMB depreciation will definitely rise, but it will not lead to a sharp depreciation of the exchange rate. The reason is that the domestic exchange rate formation system has undergone a counter-marketization reform in May this year. Exchange rate fluctuations are re-limited, even theninterest rateParity will put pressure on the RMB exchange rate, and there will not be much depreciation losses.
Yang Weizhen said that there may be more domestic enterprises going to sea, but it will not be too intense and will not have much impact on monetary policy. The current key issue of monetary policy is still domestic, and the bond market is also affected.