# China’s yuan holds steady on unchanged lending rates; offshore yuan liquidity tight - Markets - Business Recorder

> The yuan held steady on January 22 as the PBOC kept benchmark lending rates unchanged, matching expectations. Offshore yuan funding costs rose to their highest in nearly four months, making it costlier to short the currency.

- Date: 2024-01-22 · published 2024-01-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/32359-china-s-yuan-holds-steady-on-unchanged-lending-rates-offshore-yuan-liquidity
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Stable yuan and unchanged rates leave Chinese import costs for feed ingredients unchanged, with tight offshore liquidity adding only a minor cost factor.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |
| USDCNY | 2024-11-19 | [Yuan steadies at 3-1/2-mth low on firmer-than-expected fix, tighter offshore conditions - Markets - Business Recorder](https://feedsoft.ai/events/27631-yuan-steadies-at-3-1-2-mth-low-on-firmer-than-expected-fix-tighter-offshore.md) | +0.0% | +0.7% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2026-04-28 | [China's yuan steady as traders await Fed meet - Markets - Business Recorder](https://feedsoft.ai/events/19949-china-s-yuan-steady-as-traders-await-fed-meet-markets-business-recorder.md) | +0.1% | -0.5% |
| USDCNY | 2024-11-29 | [China’s yuan to snap 8-week losing streak; Trump worries linger - Markets - Business Recorder](https://feedsoft.ai/events/27627-china-s-yuan-to-snap-8-week-losing-streak-trump-worries-linger-markets-business.md) | +0.1% | +0.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40285025

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