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CHINA: PBOC Cuts 14-day Repo Rate to 1.85% to Align Policy.

CHINA
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • The lesser used 14-day repo rate was cut from 1.95% to 1.85%.
  • Following the cut of the widely used 7-day repo rate in July to 1.7% today is merely a policy adjustment to reflect other policy initiatives.
  • The 14-day repo rate is typically only used when the maturity for 7-day repo falls on a holiday.
  • Whilst seemingly insignificant, it could amount to an indication that the PBOC is aligning existing policies in anticipation of further moves ahead. 
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  • The lesser used 14-day repo rate was cut from 1.95% to 1.85%.
  • Following the cut of the widely used 7-day repo rate in July to 1.7% today is merely a policy adjustment to reflect other policy initiatives.
  • The 14-day repo rate is typically only used when the maturity for 7-day repo falls on a holiday.
  • Whilst seemingly insignificant, it could amount to an indication that the PBOC is aligning existing policies in anticipation of further moves ahead.