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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessChina Cuts 7-day Repo Rate To 1.70%
Headlines have crossed that China has cut the 7-day repo rate to 1.70% from the prior 1.80% (per BBG). This comes after the recent Third Plenum meeting and last week's softer data updates (with Q2 GDP weaker than forecast and retail sales slowing further).
- Note we have the 5yr and 1yr LPRs coming up later, in just over an hour. The market consensus rests with no change, although there is likely to be more focus on the outcomes now.
- USD/CNH has reversed course from earlier lows, the pair now back to 7.2880, versus earlier lows of 7.2781. This is a touch above late NY session highs from Friday trade.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.