China’s Xinhua quotes the People’s Bank of China (PBOC) Governor Yi Gang’s address to 24 major financial institutions while marking his push to speed up issuing new loans under the loan prime rate (LPR) mechanism in a bid to cut down real interest rates. The news report also mentions that the PBOC Governor urged the financial institutions to ramp up support to the real economy and provide more financial resources to support small and micro businesses, private firms, and the manufacturing and service sectors. FX implications This shows China’s push towards further easing, which in turn indicates a preference for a weaker Chinese Yuan (CNY). However, no immediate reaction to the news could be witnessed by the press time. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY technical analysis: 2-week old resistance-line raises doubts on bullish MACD FX Street 4 years China's Xinhua quotes the People's Bank of China (PBOC) Governor Yi Gang's address to 24 major financial institutions while marking his push to speed up issuing new loans under the loan prime rate (LPR) mechanism in a bid to cut down real interest rates. The news report also mentions that the PBOC Governor urged the financial institutions to ramp up support to the real economy and provide more financial resources to support small and micro businesses, private firms, and the manufacturing and service sectors. FX implications This shows China's push towards further easing, which in turn indicates a preference for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
