Published: 2024-09-27T03:33:41.000Z
AUD/USD flows: More Chinese stimulus implemented
FX Analyst
2
PBOC cuts 7 day reverse repo rate to 1.5% (prior 1.7%)
People's Bank of China cuts RRR by 50bp
The stimulus announced by the Chinese government earlier in the week takes effect on Friday. The People's Bank of China cuts RRR by 50bp and 7 day reverse repo rate by 20bps. Regional equities in China are supported but have reversed partial gains while HSI gains strongly.
The AUD/USD is however beaten by stronger USD and is trading 0.2% lower at 0.6881.