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ICYMI - yuan rocketed higher with the PBOC slamming the fix, and promoting capital inflow

ICYMI - yuan rocketed higher with the PBOC slamming the fix, and promoting capital inflow
Eyes were on the People's Bank of China Loan Prime Rate setting today:PBOC Loan Prime Rates (LPR) remain unchanged at today's rate setting, as expectedBut the PBOC surprised with two moves elsewhere. The reference rate was hit with a huge hammer, the Bank set the rate 700+ points lower than the reported expected:PBOC sets USD/ CNY reference rate for today at 7. 1466 (vs. estimate at 7.2233)Secondly, the bank eased its macro-prudential adjustment parameter, raising it to 1.5 from 1.25. This eases... Read More
Posted: Jul 20 2023, 01:50
Author Name: forexlive
Views: 092093

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