Another rate cut is expected from China today. Last week we saw the People’s Bank of China cutting three separate policy rates:
- PBOC 1 year MLF rate cut to 2.65% (prior 2.75%), as widely expected
- ICYMI – People’s Bank of China rate cut overnight (that’s two rate cuts in one day)
And there was other stimulus, and more is expected:
Analysts are wary, though, that stimulus will be too little:
Anyway, back to today, the PBOC is setting Loan Prime Rates (LPRs).
Currently LPR rates are:
- 3.65% for the one year
- 4.30% for the five year
3.55% and 4.20% are expected, but a slightly deeper cut would not be too much of a surprise.
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Also up today are 3 events from the Reserve Bank of Australia. I posted a heads-up preview to these here:
This
snapshot from the ForexLive economic data calendar, access
it here.
-
The
times in the left-most column are GMT. -
The
numbers in the right-most column are the ‘prior’ (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.