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7 May 2025

PBOC Governor Pan announces LPR 10 bps cut, RRR 50 bps cut and 7-day RR cut to 1.4%

Following a meeting with the People's Bank of China (PBOC), China Securities Regulatory Commission, National Financial Regulatory Authority, the Chinese central bank Governor Pan Gosheng announces interest rates cuts.

Key quotes

  • The world is full of uncertainties.
  • China financial system remains robust despite shocks.
  • yuan rebounds against dollar after depreciation.
  • Will cut policy rate by 10 bps.
  • Will cut Reserve Requirement Ratio (RRR) by 50 bps.
  • Seven-day Repo Rate (RR) to be cut to 1.4%, from 1.5%.
  • Policy rate cut will lead to Loan Prime Rate (LPR) cut by 10 bps.
  • RRR cut will release about CNY1 trillion in liquidity.
  • Will set up 500bn Yuan in re-lending loans for elderly care and service consumption.
May 7, 2025

AUD/USD rises above 0.6500 following domestic data, US-China trade talks eyed

The AUD/USD pair continues its upward momentum for the fourth consecutive session, hovering around the 0.6510 mark during Wednesday’s Asian trading hours. The Australian Dollar (AUD) finds support from releasing domestic mid-tier economic data and improving global trade sentiment.
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May 7, 2025

China Securities Regulator Head: US tariff policy has brought great pressure to capital markets

The head of the China Securities Regulatory Commission (CSRC) said on Wednesday, “US tariff policy has brought great pressure to China's capital markets.”
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