Source: China – South China Morning PostAfter the US Federal Reserve delivered its first interest rate cut of the year, analysts said China’s central bank was likely to proceed with only moderate easing this year, despite more room being available after the Fed’s move.
On Thursday morning, the People’s Bank of China (PBOC) set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.1085, down from 7.1013 on Wednesday.
The move followed the Fed’s announcement on Wednesday of a widely expected 25 basis point cut to its…Read More