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PBOC cuts benchmark interest rate, Lending rate cut by 25 Bps

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The People’s Bank of China (PBOC) cut its benchmark interest rate and lending rate by 25 basis points, a day after ECB’s Draghi hinted at more easing in December.

    PBOC reduced 1-Year Lending Rate By 25 Bps to 4.35% effective as of Oct 24 and 1-Year Deposit Rate by 25 Bps, to 1.50%.

    The PBOC said it intends to improve regulation of Int. Rates, improve the monetary policy transmission mechanism.

    As said earlier, the move comes a day after Draghi expressed the possibility of more QE/rate cut in December. It remains to be seen how long the Fed and the BOE stand on the other side of the fresh race to loosen the monetary policy.
    For more information, read our latest forex news.

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