USD/CNY is holding steady around the 7.30 level and has been range bound between 7.24-7.36 for the past two months. Economists at Commerzbank analyze
the pair’s outlook. PBoC is likely to ensure ample liquidity in the system The bottom appears to be continued policy support from all levers, namely fiscal and monetary policy. PBoC left the 1-year medium-term lending facility rate unchanged in October at 2.50%.
It was last cut by 15 bps in August 2023. We may not necessarily see further cuts as it will widen the interest rate differential vs USD and exert downside pressure on CNY. However, PBoC is likely to ensure ample liquidity in the system. For USD/CNY, this may entail a continued supportive tone. .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PBOC sets USD/CNY reference rate at 7.1786 vs. 7.1792 previousOn Tuesday, the People’s Bank of China (PBOC) fixed the USD/CNY central rate at 7.1786, compared with Monday’s fix of 7.1792 and market expectations o
Read more »
PBoC sets USD/CNY reference rate at 7.1785 vs. 7.1786 previousThe People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Wednesday at 7.1785, as compared to the previous day's
Read more »
Sen. Schumer: Federal designation of tech hub will 'transform' I-90 corridor, CNYU.S. Senate Majority Leader Chuck Schumer (D-NY) spent time in the Upstate New York region Monday, flanked by local leaders in three cities: Buffalo, Rochester
Read more »
Equality in the labor market needs more than public childcare, economists sayHaving children poses serious financial challenges. One researcher to demonstrate this is U.S. economist Claudia Goldin, who was awarded this year's Nobel Prize in Economic Sciences for her research on gender differences in the labor market.
Read more »
China's digital currency used to settle international crude oil deal: reportChina's e-CNY digital currency was used to settle a large international crude oil transaction, according to a report.
Read more »
Who knows what’s going on? Not the economists.What if 2009 through 2020 were a weird fluke and we are in some new normal? What if inflation stays higher? What if interest rates stay higher? What is going onnnnnnn?
Read more »