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The People's Bank of China kept its one-year and five-year loan prime rates unchanged at 3.65% and 4.30% for the fourth straight month. The yuan nudged higher against the dollar after trading lower early in the session.
Analysts expect future LPR cuts to be modest and targeted at real estate.
Steady Chinese lending rates signal no near-term stimulus surge, which limits the boost to Chinese industrial and feed demand. The yuan's small move has little direct effect on feed prices.
financialpost.comReutersDec 20, 2022After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
