1. RMB exchange rate decline: On the one hand, the US economy recovered strongly because of the strong US dollar, on the other hand, the domestic economic growth rate reached a bottleneck, and the economic development model based on real estate came to an end. These two factors contributed to the decline of RMB exchange rate.

Second, due to the decline of RMB exchange rate, domestic economic growth slowed down, and domestic hot money (especially foreign capital) flowed out of China and entered the United States for strong growth to buy dollar assets or dollar foreign exchange, resulting in the continuous loss of active funds in the domestic capital market, which will further suppress economic growth and further reduce economic activity. In this case, the central bank is likely to promote many "dead money" activities in banks by lowering the deposit and loan interest rates (interest rate cuts).

At the end of 20 14, the stock market rose sharply, which was indirectly promoted by the central bank's interest rate cut. Therefore, if the exchange rate of RMB 20 15 continues to decline, the central bank is likely to further cut interest rates to stimulate domestic economic activities and hedge foreign capital outflows.

Personal opinion, purely manual, I hope it will be helpful to you and I hope it will be adopted.