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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...
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Posted: Aug 21 2023, 01:24
Author Name: forexlive
Views: 110680