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China promised more stimulus, PBOC strengthened CNY - yuan rising in early China trade

China promised more stimulus, PBOC strengthened CNY - yuan rising in early China trade
The news out of China on Monday was of more promised support for the economy:China pledge to step up policy support underpins rally in oil and Chinese equitiesOn Monday China promised more stimulus. Another promise, or for real this time?Rate cuts, tax cuts, fee reductions expected from China says state-sponsored finance mediaIn addition the People's Bank of China once again set the CNY much higher than expected:PBOC sets USD/ CNY central rate at 7.1406 (vs. estimate at 7.2044)Offshore yuan has... Read More
Posted: Jul 25 2023, 01:34
Author Name: forexlive
Views: 102282

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