Loading…
The PBOC lowered the rate on 237 billion yuan of one-year medium-term lending facility loans by 10 basis points, from 2.75% to 2.65%. It was the first such cut in 10 months.
Equities rose modestly, and the move followed the earlier seven-day repo cut.
The cut signals more monetary support for China's slowing economy, which can support feed demand over time, though its direct effect on commodity prices is limited.
cnbc.comJihye LeeJun 15, 2023After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
