The PBoC lowered both short and long-term rates by 10 basis points, reducing loan prime rates and weighing on bond yields.
This move is aimed at bolstering lending and investment within China, addressing challenges in the property sector and sluggish consumer spending.
Lower financing rates could support economic activity, but the widening yield gap with the US may add selling pressure on the yuan.
Traders are monitoring industrial profits and PMI data for insights on the Chinese economy, anticipating possible volatility.
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