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China cut its benchmark lending rate and mortgage reference rate by a larger margin than expected on Monday to support a faltering economy. The move is aimed at reviving growth after weak activity.
Stimulus that supports Chinese growth could lift industrial and livestock feed demand over time, but the rate cut also widened the rate gap with the US and weakened the yuan.
reuters.comWinni ZhouAug 22, 2022After 31 past bullish policy events, Chinese Yuan (CNY per USD) moved a median -0.2% over 5 sessions (42% higher; middle half -0.4% 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.
