Fed's Kaplan expects weakness in China's currency as growth slows

November 18, 2016 2:25 PM EST

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HOUSTON (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Friday repeated his view that China's economic growth will likely decline and said he expects future bouts of weakness in China's currency as a result.

President-elect Donald Trump promised during his campaign that he would have China labeled a currency manipulator for artificially keeping its currency weak.

Kaplan, speaking at a conference on oil at the Dallas Fed's Houston branch, also said that the U.S. economy is "at the point" that it is appropriate for the Fed to raise rates. The U.S. central bank is widely expected to raise interest rates at its next policy meeting on Dec. 13-14.

(Reporting by Liz Hampton; Writing by Ann Saphir; Editing by Andrea Ricci)



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