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PBOC cuts Loan Prime Rates (LPRs) by 10bp for both 1- and 5-year loans
- 1-year to 3.0%, from 3.1% and the 5-year to 3.5% from 3.6%
PBOC is expected to set the USD/CNY reference rate at 7.2112 – Reuters estimate
- PBOC CNY reference rate setting for the trading session ahead.
ICYMI - China said the US has undermined the consensus reached in Geneva tariff talks
- On Monday, US time, China issued a statement on US adjusting chip export controls
Chinese bank has cut its yuan deposit rate, as expected
- China banks expected to cut deposit rates today (Tuesday, May 20, 2025)
ICYMI - China's state banks are expected to cut deposit rates today (Tuesday China time)
- Reuters had the report, citing unnamed sources
China NBS spokesman (more): Will strengthen policy coordination
- To promote urban renewal and affordable housing construction, for stable and healthy development of real estate market
China NBS spokesman (more): Foreign trade overcame difficulties, maintained steady growth
- The reduction of tariffs by China and the United States in the next stage is conducive to the growth of bilateral trade and the recovery of the world economy
China Stats spokesman: contribution of consumption to eco growth will continue to increase
- China National Bureau of Statistics (NBS) spokesman
China Industrial Output April 2025 +6.1% y/y (expected 5.5%, prior +7.7%)
- April Retail Sales +5.1% y/y (expected +5.5%, prior +5.9%)
PBOC sets USD/ CNY reference rate for today at 7.1916 (vs. estimate at 7.2057)
- PBOC CNY reference rate setting for the trading session ahead.
PBOC is expected to set the USD/CNY reference rate at 7.2057 – Reuters estimate
- PBOC CNY reference rate setting for the trading session ahead.
Newsquawk Week Ahead: UK-EU Summit, RBA, China Activity Data, Global PMI Data, Canada CPI
- Next week, highlights include the UK-EU Summit, RBA rate decision, Activity data from China, PBoC LPR, ECB Minutes, Global PMI data, Inflation reports from UK, Canada and Japan, as well as UK Retail Sales.
PBOC sets USD/ CNY reference rate for today at 7.1938 (vs. estimate at 7.2085)
- PBOC CNY reference rate setting for the trading session ahead. 7.1938 is the strongest (for CNY) since April 3.
PBOC is expected to set the USD/CNY reference rate at 7.2085 – Reuters estimate
- PBOC CNY reference rate setting for the trading session ahead.
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