2024-09-26 08:31
IndustryCNY Chinese yuan gains alongside more positive moo
Both the Shanghai Composite and CSI 300 indices are up 2.4% on the day while the Hang Seng is up by 3.3% ahead of the lunch break later. That comes as the PBOC unveiled more easing measures earlier, after not doing so at the end of last week. However, the key caveat here is that they did not specify when these changes will go into effect.
The central bank said that the RRR will be cut by 50 bps and that the 7-day repo rate will be cut further to 1.50%, down from 1.70%. They also said that other interest rates will fall as well, with rates on existing mortgages to be reduced by 0.50% on average.
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CNY Chinese yuan gains alongside more positive moo
| 2024-09-26 08:31Both the Shanghai Composite and CSI 300 indices are up 2.4% on the day while the Hang Seng is up by 3.3% ahead of the lunch break later. That comes as the PBOC unveiled more easing measures earlier, after not doing so at the end of last week. However, the key caveat here is that they did not specify when these changes will go into effect.
The central bank said that the RRR will be cut by 50 bps and that the 7-day repo rate will be cut further to 1.50%, down from 1.70%. They also said that other interest rates will fall as well, with rates on existing mortgages to be reduced by 0.50% on average.
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