PBOC Governor Yi: Policy support aims to boost credit than lowering interest rates PBOC CentralBanks AUDUSD Growth
bank’s monetary policy support prioritizes boosting credit over cutting interest rates lower, per Bloomberg. China’s “real interest rate is pretty low” after taking inflation into account, suggesting that there’s limited room for large-scale rate cuts.Market reaction
Yields on the benchmark Chinese government bond steadied Tuesday after slipping 1 basis point to 2.82% following Yi’s comments. Meanwhile, USD/CNY was last seen trading up 0.09% on the day at 6.6965. AUD/USD is attempting a minor bounce near 0.6925, almost unchanged on the day, as of writing.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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