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- PBOC keeps 1-year Loan Prime Rate unchanged at 3.70%, AUD/USD remains mildly bid
PBOC keeps 1-year Loan Prime Rate unchanged at 3.70%, AUD/USD remains mildly bid
People's Bank of China (PBOC) kept its key monetary policy rates, namely the Loan Prime Rate (LPRs) unchanged during Monday's announcement.
The Chinese central bank matches wide market expectatinos as it keeps the 1-year and 5-year LPRs unchanged at 4.45% and 3.7% respectively.
Market reaction
As markets already anticipated no change in the PBOC's monetary policy, the event failed to witness any major reaction. Even so, the AUD/USD prices remain mildly bid around 0.6950 by the press time.
Also read: AUD/USD Price Analysis: Corrective pullback jostles with 0.6960 hurdle
About PBOC Interest Rate Decision
The PBoC Interest Rate Decision is announced by the People´s Bank of China. If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CNY. Likewise, if the PBoC has a dovish view on the Chinese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
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