{
}
China's central bank is set to implement its largest interest-rate cuts in a decade, with Wall Street banks like Goldman Sachs and Morgan Stanley predicting reductions of up to 40 basis points in 2025. This move aims to bolster growth and combat deflation amid ongoing economic challenges, including a prolonged property slump and subdued credit demand. Central bank chief Pan Gongsheng is prepared to support these efforts, although analysts caution that monetary policy alone may not suffice to stimulate the economy.
China's 10-year bond yield has fallen to a multi-decade low of 1.9636%, driven by expectations of further stimulus measures from Beijing to support the economy, which is projected to grow over 5% this year. The People's Bank of China has injected significant liquidity into the banking system and indicated potential cuts to the reserve requirement ratio. Despite a bond market rally, concerns remain about economic fundamentals and the risk of deflation without meaningful fiscal stimulus.
China's central bank has maintained its medium-term lending rate at 2.0% to stabilize the yuan amid pressures following the U.S. presidential election. The People's Bank of China aims for gradual policy adjustments, with expectations of potential reserve requirement ratio cuts and a cautious approach to interest rate changes as it navigates economic challenges. The offshore yuan has depreciated over 3% since late September, prompting discussions on balancing economic revitalization with exchange rate stability.
China"s central bank has maintained its benchmark lending rates, with the 1-year loan prime rate at 3.1% and the 5-year rate at 3.6%, as it evaluates the impact of recent stimulus measures amid a sluggish economy. Despite a recent cut in rates, economic indicators show weak industrial production and a steep decline in real estate investment, although retail sales have shown some improvement. Analysts predict continued slow growth, with Morgan Stanley forecasting around 4% growth for the next two years, while Goldman Sachs anticipates a slight deceleration in GDP growth to 4.5% by 2025.
The People’s Bank of China, led by Governor Pan Gongsheng, has reaffirmed its commitment to a supportive monetary policy, emphasizing an increase in counter-cyclical measures to address short-term economic challenges. This announcement comes during a meeting of the National People’s Congress Standing Committee, which is expected to approve additional fiscal stimulus. Following recent interest rate cuts aimed at bolstering slowing growth, the central bank's stance aligns with global trends as the U.S. Federal Reserve also shifts towards easing.
China's central bank chief, Pan Gongsheng, has committed to maintaining an accommodative monetary policy and enhancing countercyclical measures to bolster economic growth. In a report to the National People’s Congress Standing Committee, he emphasized that these strategies will foster a stable monetary environment conducive to high-quality development.
BHP has upgraded its rating to Buy, citing overly pessimistic assumptions about iron ore prices and Chinese growth. Recent Chinese stimulus measures, including interest rate cuts and support for the housing sector, aim to boost investor sentiment despite ongoing weak steel production. The mining sector remains sensitive to commodity price fluctuations and currency movements, with a focus on long-term asset management and capital allocation.
Oil prices have retreated as developments in Libya ease supply concerns, with expectations of increased oil flow following agreements on central bank governance. Meanwhile, China's government is pushing for economic growth amid a downturn, while upcoming US price data and Fed Chairman Powell's speech may influence market dynamics.
Ethereum's price is influenced by the People's Bank of China's economic stimulus and potential easing of monetary policy, which may drive investors towards crypto assets. Attention is also on Fed Chairman Jerome Powell's upcoming speech and US price data, with the presidential election campaign adding further market dynamics. Polls show Kamala Harris slightly ahead of Donald Trump, who is viewed as more crypto-friendly.
Pan Gongsheng
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
China's Central Bank Plans Major Interest Rate Cuts to Boost Economy
Chinese Yuan
Morgan Stanley
The Goldman Sachs Group Inc
CHN
Donald Trump
Qilai Shen
Pan Gongsheng
Show more
02:39 06.12.2024
China bonds surge as 10-year yield drops to multi-decade low
08:48 02.12.2024
China maintains medium-term loan rate to stabilize yuan amid economic pressures
United States Dollar
Natixis
UBS
USA
CHN
Zhiwei Zhang
Bruce Pang
Gary Ng
Donald Trump
Wang Tao
Pan Gongsheng
Show more
05:26 25.11.2024
China maintains lending rates as economic stimulus effects are evaluated
Chinese Yuan
United States Dollar
JLL
Morgan Stanley
The Goldman Sachs Group, Inc.
CHN
Bruce Pang
Donald Trump
Pan Gongsheng
Show more
02:15 20.11.2024
China's central bank maintains supportive monetary policy amid economic challenges
02:18 06.11.2024
PBOC commits to enhancing monetary policy for economic growth stability
18:50 05.11.2024
China's stimulus measures aim to boost mining sector and investor sentiment
Australian Dollar
Brazilian Real
Canadian Dollar
United States Dollar
Chinese Yuan
BHP Group Limited
AUS
Mike Henry
Pan Gongsheng
06:46 08.10.2024
oil prices decline as libya and china developments influence market trends
09:00 26.09.2024
Ethereum price influenced by Chinese central bank and US economic data
Chinese Yuan
United States Dollar
IG Group Holdings plc
CHN
USA
Kamala Harris
Donald Trump
Jerome Powell
Pan Gongsheng
Show more
09:00 24.09.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Financial Scams and Security
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Market Analysis and Predictions
Hedge Funds & Private Equity
Retail and Consumer Goods
Supply Chain Management
Startups & Entrepreneurship
Workplace Trends
CEO Changes
Real Estate Investments
Global Trade Developments
Cryptocurrency Trends
Government Economic Policies
Venture Capital Investments
Consumer Protection Regulations
Countries:
Companies:
JPMorgan Chase & Co.
Barclays PLC
Bank of America Corporation
The Goldman Sachs Group, Inc.
Tesla, Inc.
Citigroup Inc.
Geode Capital Management LLC
Wells Fargo & Company
Morgan Stanley
The Charles Schwab Corporation
NVIDIA Corporation
Charles Schwab Investment Management Inc.
Credit Suisse Real Estate Fund Siat
State Street Corporation
Apple Inc.
Tesmec S.p.A.
UBS Group AG
Broadcom Inc.
Deutsche Bank Aktiengesellschaft
Lloyds Banking Group plc
Currencies:
United States Dollar
Swiss Franc
British Pound Sterling
Chinese Yuan
Indian Rupee
Euro
United Arab Emirates Dirham
South Korean Won
Offshore Chinese Yuan
Japanese Yen
Azerbaijani Manat
New Taiwan Dollar
Saudi Riyal
Singapore Dollar
Vietnamese Đồng
Hong Kong Dollar
People: