People’s Bank of China sets yuan reference rate at 6.8853 (vs. yesterday at 6.8881)

Author: Eamonn Sheridan | Category: Central Banks

PBOC USD/CNY reference rate for today

ps. iron ore futures in China +5% after last weeks slide. 

And, while you are here, some comments on China via BNP:
  • Activity rebounded in March 2019 but weakened again afterwards. The recent flare-up in trade tensions with the US has again darkened export prospects.
  • The central bank is easing liquidity and credit conditions, though the reduction in financial-instability risks via regulatory tightening should remain a priority. 
  • Fiscal policy has also turned expansionary through increased infrastructure spending and a rising number of household/corporate tax cuts.
  • In the short term, exports and private domestic investment should continue to decelerate. Tax measures should support consumer spending.
A mixed picture for sure from China - plenty of stimulus efforts, and trade tension in respite - but for how long is the question. 
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose