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Meanwhile, In China…
China cut rates on Monday. (Scintillating, I know.)
While not exactly the stuff headlines are made of, the moves (plural) were worth a mention, coming as they did on the heels of an uneventful Third Plenum that left markets loitering in limbo.
The PBoC cut the seven-day reverse repo rate in a kind of last minute move to green light reductions to both LPR tenors just a few minutes later. Typically, LPR cuts follow reductions to the one-year MLF rate, which was left unchanged this month.
The
Meanwhile, China continues to amass a global network of shipping ports.
https://foreignpolicy.com/2024/05/13/peru-learns-to-read-the-fine-print-in-china-deals/