Another rate cut from the People’s Bank of China, 14 day reverse repo to 1.95% from 2.15%

From China so far today:

Buried in amongst that lot (the reference rate post) is the news of another rate cut from the Bank:

PBOC sets 14 day RR rate at 1.95% vs. 2.15% previously

  • we haven’t had a 14-dayer in many months

Still on the way from China is the economic data for August:

The PBoC cut its RRR yesterday, which may be a sign the data will not be as good,as expected:

Pan Gongsheng is People’s Bank of China governor

This article was written by Eamonn Sheridan at Source