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Nomura cites a "strong signal" for a cut to MLF rate this week and the LPR next week
Last week China commercial banks cut rates:More Chinese banks cut ratesIndustrial and Commercial Bank of China cuts yuan deposit ratesNomura looking for a 10bp cut:“We believe the cut in banks’ deposit rates sends a strong signal that the PBOC is paving the way for a cut in benchmark lending rates (MLF) to guide down LPR”“This new round of deposit rate cuts, as well as rapidly worsening exports, broadening property distress, ongoing disinflation, and a likely Fed pause, raise our conviction of t...
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Posted: Jun 12 2023, 01:32
Author Name: forexlive
Views: 081295