PBoC follows the Fed by 5 basis points, what’s next

PBoC follows the Fed by 5 basis points, what’s next

As expected, the People’s Bank of China (PBoC) raised the 7D reverse repo open market rate today by 5 basis points from 2.50% to 2.55%. We wrote on 21st March that this is our view. This shows that there is policy continuity in the central bank in terms of interest rate policy.

The objective of r…

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