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China's RRR expected to be cut by 0.5% in Dec

FXStreet (Mumbai) - As reported by Shanghai Securities News via MNI, Shen Lan, an economist covering China for Standard Chartered noted that China's reserve requirement ratio (RRR) is expected to be cut by 0.5 percentage point in December as foreign reserves fell sharply in November, which likely resulted in slower M2 growth.

However, he added that the interest rate cut however, may not happen unless CPI growth slowed further.

China is expected to report its annualised CPI figures on Tuesday, with markets expecting the consumer prices to have ticked higher last month.

EUR/JPY: Upside capped by daily pivot

The EUR/JPY wavers in a tight range after opening a tad higher at Tokyo on the back of higher demand for the yen following negative equities and above estimates Japan’s Q3 GDP figures.
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PBOC sets Yuan central parity at 6.4078 Tues versus 6.3985

On Tuesday, the Chinese central bank, PBOC, sets USD/CNY reference rate at 6.4078 versus 6.3985 previous close.
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