The People’s Bank of China (PBoC) unexpectedly cut its benchmark rate, the 7-day reverse repo rate, by 10 basis points to 1.7% last night, the first rate cut since August last year, Commerzbank’s FX strategist Volkmar Baur notes.
The People’s Bank of China (PBoC) unexpectedly cut its benchmark rate, the 7-day reverse repo rate, by 10 basis points to 1.7% last night, the first rate cut since August last year, Commerzbank’s FX strategist Volkmar Baur notes.
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