The people's bank of China cuts again!
PBOC cuts Chinese interest rates again on Saturday to stimulate the economy. One year bechmark lendig rate cut by 25 bps to 4.85%, one year benchmark deposit rate cut by 25 bps to 2.00%.China’s central bank cut lending rates for the fourth time since November! From PBOC: “The interest rate and RRR cuts, will help stabilise growth, adjust structures and lower social financing costs”, the central bank said. Going forward, the central bank will continue to implement prudent monetary policy, use various policy tools to strengthen and improve marco-prudential management, optimise policy combinations and create neutral and appropriate monetary and financial environments for economic adjustments and upgrading.” Full statement here. Because of this rate cut It could be very interesting at the opening tonight, especialy with AUD pairs at FX and at the Chinese stock market. But, I think it will be interesting in the stock markets World wide and brutally interesting at the FX with euro pairs. 🙂 Buckle up!