PBOC doubles yuan trading band

China’s central bank has doubled the daily trading band for the yuan starting on Monday, The Wall Street Journal reported. The yuan will be able to trade as much as 2% on either side of what is known as the parity rate, a daily peg for trading of the yuan against the US dollar that is set by the central bank. It was previously 1%. The easing comes as China’s economy is testing a 15-year low in year-on-year growth, leading to questions of whether Beijing would continue its economic and financial overhauls or pull back to help struggling companies.