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China's central bank cut the one-year re-lending rate by 0.25 percentage point to 2.25% and the rediscount rate to 2%, with the aim of easing credit for agriculture and small firms. It also lowered special re-lending rates by 0.5 percentage point to 1.75%.
Cheaper credit for agricultural and small businesses supports Chinese livestock and feed-sector activity, a modestly supportive factor for feed demand. The effect on commodity prices is limited.
english.www.gov.cnJul 2, 2020After 138 past policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (47% higher; middle half -0.4% to +0.4%), 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.
