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AUD and NZD marked lower after the People's Bank of China rate cut is less than expected

AUD and NZD marked lower after the People's Bank of China rate cut is less than expected
China cut one-year LPR by 10 bp to 3.45% from previous 3.55%And the Five-year LPR remains unchanged at 4.2%.The property sector is as good as dead and the People's Bank of China is instructing banks to lend like crazy:Weekend - the PBOC met with bank executives and told lenders, again, to boost loansAnd yet the Bank gets timid with rate cuts. There is no doubt that deleveraging is a Chinese policy goal, but its catastrophic progress is surely a little out of hand? People's Bank of China unconce... Read More
Posted: Aug 21 2023, 01:24
Author Name: forexlive
Views: 110680

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