China's Shanghai reports 20K+ new coronavirus cases (for April 18)

China's CCTV with the report, more than 20,400 new cases for that day.

The lockdown of China's largest city and economic powerhouse is weighing on economic activity.

The response from the PBOC has been a tiny RRR cut, no rate cut, so far:

• ICYMI - PBOC made a small cut to its RRR, 25bps to take effect from April 25