Loading…
The People's Bank of China conducted an unscheduled medium-term lending facility operation at steeply lower rates, its second surprise move that week. The operation followed the benchmark rate cuts announced on Monday.
The central bank appears to be increasing monetary stimulus to support the economy.
Additional liquidity support signals Beijing's intent to stabilize growth, which could eventually support Chinese feed and livestock demand. The effect on feed prices is indirect and depends on whether demand recovers.
reuters.comJul 25, 2024After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
