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China may cut LPR ahead of holiday season
The Securities Times has published a report that states that The People's Bank of China could cut its LPR in the coming days.
This will follow last week's cut of the reserve requirement ratio in an attempt to free up the jam in money flow and add support for the nation’s economy as a property-market downturn threatens to hamper growth into next year.
The People’s Bank of China reduced most banks’ reserve requirement ratio by 0.5 percentage points, releasing 1.2 trillion yuan ($188 billion) of liquidity. This was to avoid a liquidity crunch among developers that’s roiled the nation’s bond market.
In doing so, this can weaken the yuan and add further demand for the US dollar and weigh on the Aussie which at times tracks the direction of CNH.
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