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The China Loan Prime Rate setting was unchanged with the 1 year 3.85% and 5 year 4.65%.

This was expected.

More to come…

Description of the PBoC interest rate decision

The PBoC Interest Rate Decision is announced by the People´s Bank of China. If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CNY. Likewise, if the PBoC has a dovish view on the Chinese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.