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: 2024.09.30
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PBoC moves to cut mortgage rates by end-October
Breaking news
PBoC moves to cut mortgage rates by end-October
New
2024.09.30 09:38
2024.09.30 09:38
2024.09.30 09:38
The People's Bank of China (PBOC) said on Sunday that it would tell banks to lower mortgage rates for existing home loans before October 31 in its latest attempt to shore up the troubled property sector as the economy slows, per Bloomberg.
Commercial banks should reduce interest rates on existing mortgages to no less than 30 basis points (bps) below the Loan Prime Rate (LPR), according to a statement released by the People's Bank of China (PBOC). It is estimated to cut existing mortgage rates by about 50 bps on average.
Last updated
: 2024.09.30
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NZD/USD clings to gains near YTD peak, above mid-0.6300s amid China stimulus
The NZD/USD pair attracts some buyers for the third successive day and climbs to a fresh year-to-date (YTD) peak, around the 0.6375 region during the Asian session on Monday.
New
2024.09.30 12:15USD/INR gathers strength as US Dollar demand weighs on Indian Rupee
The Indian Rupee (INR) weakens on Monday, pressured by month-end US Dollar (USD) demand from importers and likely interventions by the Reserve Bank of India (RBI).
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2024.09.30 11:59Gold price drifts lower amid the upbeat market mood, bullish potential seems intact
Gold price (XAU/USD) kicks off the new week on a softer note, albeit it remains confined in a multi-day-old range and within striking distance of the all-time peak touched last Thursday.
New
2024.09.30 11:52Australian Dollar remains solid following China PMI data
The Australian Dollar (AUD) continues its winning streak for the third consecutive session on Monday.
New
2024.09.30 11:39Japan's Hayashi: No comment on daily share moves
Japan's Chief Cabinet Secretary Yoshimasa Hayashi declined to comment on the daily stock market moves on Monday.
New
2024.09.30 11:11China's September Caixin Manufacturing PMI contracts to 49.3, Services PMI drops to 50.3
China's Caixin Manufacturing Purchasing Managers' Index (PMI) contracted to 49.3 in September after reporting 50.4 in August, the latest data showed on Monday.
New
2024.09.30 10:46GBP/USD trades stronger above 1.3350 amid dovish Fed and softer US PCE data
The GBP/USD pair holds positive ground near 1.3385 during the early Asian session on Monday.
New
2024.09.30 10:39China's NBS Manufacturing PMI rises to 49.8 in September, Non-Manufacturing PMI eased to 50.0
China's official Manufacturing Purchasing Managers' Index (PMI) improved to 49.8 in September, compared to 49.1 in the previous reading.
New
2024.09.30 10:32EUR/USD moves above 1.1150 due to rising odds for the Fed's aggressive rate-cutting cycle
EUR/USD kicks off the week by edging higher, trading around 1.1170 during the Asian session on Monday.
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2024.09.30 10:24PBOC sets USD/CNY reference rate at 7.0074 vs. 7.0101 previous
On Monday, the People's Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.0074, as compared to Friday's fix of 7.0101 and 7.0098 Reuters estimates.
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2024.09.30 10:17Disclaimer:
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