Reaction to China’s wider trading band
Market Voice
After the announcement of three policy measures by the People’s Bank of China (PBOC) on May 18 (RMB band widening, rate hikes, and reserve requirement increase), we will look at how markets have performed.
That the PBOC baulked from hiking the lending rate by the 54 basis points talked about in the market suggests the central bank continues to be risk-averse, and will not do anything that could be seen as triggering an equity market correction. One commentator put it this way: the PBOC is not
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