Chinese banks lowered the 1-year Loan Prime Rate (LPR) by 10 bps and left the 5-year LPR unchanged. Economists at TD Securities analyze USD/CNH outloo
In an unexpected move, China's 1-year LPR was cut less than expected by 10 bps to 3.45% and the 5-year rate was kept unchanged at 4.20%.
Despite a stronger-expected-fixing today , markets may read the LPR decision as a step back in policy support from authorities and may pressure USD/CNH back to YTD highs at 7.35.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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