China Securities Journal hints at PBOC rate cut

In its latest daily, China Securities Journal (CSJ) quotes a member of the Chinese Academy of Social Sciences to highlight the odds of a rate cut by the People’s Bank of China (PBOC).

Key comments (Google translation from CSJ)

China has made it clear that it wants to stabilize growth.

People's Bank of China has already taken some measures in this direction.

In the future, the People's Bank of China's policy interest rate, market benchmark interest rate and market interest rate will all decline further.

Market reactions

The news should have ideally helped the NZD/USD prices to remain firmer but mixed concerns over the Ukraine-Russia crisis seem to recently weigh on the quote.

Read: NZD/USD stays defensive around 0.6800 amid market’s anxiety over Ukraine, Fed