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PBoC cuts interest rates, raises deposit-rate ceiling

The People’s Bank of China has announced a cut in interest rates effective 22 November. The central bank has cut the 1-year lending rate to 5.6 percent with the 1-year deposit rate cut to 2.75 percent.

The PBoC also raised the deposit-rate ceiling to 1.2 times the benchmark.

GBP/USD upside limited by 1.5735 – FXStreet

Matias Salord, Analyst at FXStreet sees consolidation likely to persist today for the GBP/USD pair as it trades sideways within its trading range.
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Comex Copper gains as PBoC cuts rates

Copper, on the Comex division of the New York Mercantile Exchange, shot up after the People’s Bank of China reduced the 1-year lending rate by 40 bps to 5.6% and 1-deposit rate by 25 bps to 2.75%. The PBoC also raised the deposit-rate ceiling to 1.2 times the benchmark.
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