بروزرسانی: 23 خرداد 1404
CNY could face more headwinds over the near term – HSBC
The CNY could face more headwinds from China’s persistent run of weak data and further widened yield disadvantage.\xa0
The PBoC unexpectedly lowered the rate on its one-year loans, or medium-term lending facility (MLF), by 15 bps to 2.5%, together with a reduction of 10 bps in its 7-day reverse repurchase rate (a short-term policy rate) to 1.8%. The rate cut opens room for a reduction in 1-year or even 5-year loan prime rates on 21 August.
The People’s Bank of China (PBoC) unexpectedly reduced its key rates on 15 August – which drove USD/CNY to a fresh year-to-date high. Economists at HSBC analyze Yuan’s outlook.
PBoC may smooth volatility
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منبع: https://www.fxstreet.com/news/cny-could-face-more-headwinds-over-the-near-term-hsbc-202308161434The PBoC may continue to smooth volatility, but we do not expect it to draw a firm line in the sand when the tide keeps coming in.