# Instant view: China central bank acts to support markets, economy

> The PBOC said it will cut the reserve requirement ratio for all banks by 50 basis points, the first such cut this year. The move frees about 1 trillion yuan ($139.45 billion) into the market.

- Date: 2024-01-24 · published 2024-01-24T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/32356-instant-view-china-central-bank-acts-to-support-markets-economy
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Broader monetary easing aims to support Chinese growth and credit, which can lift feed demand over time, but it also weakens the yuan and pressures dollar-priced import costs.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-07-22 | [China cuts several major interest rates to support fragile economy](https://feedsoft.ai/events/7516-china-cuts-several-major-interest-rates-to-support-fragile-economy.md) | -0.3% | -1.4% |
| USDCNY | 2024-07-09 | [China’s central bank is stuck in a policy dilemma](https://feedsoft.ai/events/12299-china-s-central-bank-is-stuck-in-a-policy-dilemma.md) | -0.1% | -1.9% |
| USDCNY | 2019-08-05 | [China's central bank denies devaluation is to counter tariffs](https://feedsoft.ai/events/5375-china-s-central-bank-denies-devaluation-is-to-counter-tariffs.md) | +1.8% | +3.1% |
| USDCNY | 2024-04-29 | [CNY USD: Yuan Devaluation Debate Surfaces as Way to Support China Economy - Bloomberg](https://feedsoft.ai/events/30953-cny-usd-yuan-devaluation-debate-surfaces-as-way-to-support-china-economy.md) | -0.1% | -0.1% |
| USDCNY | 2019-06-09 | [China Central Banker Says No Specific Yuan Level Important - Bloomberg](https://feedsoft.ai/events/58817-china-central-banker-says-no-specific-yuan-level-important-bloomberg.md) | +0.3% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/world/china/view-china-central-bank-acts-support-markets-economy-2024-01-24/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.