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18.11.2019 19:38

PBoC: Another rate cut – Deutsche Bank

Analysts at Deutsche Bank note that this morning in Asia the PBOC has cut the interest rate on its seven-day reverse repurchase agreements to 2.5% from 2.55% for the first time since October 2015.

  • “Along with the reduction in interest rates, the PBoC also added CNY 180bn of cash into the financial system via open market operations, helping to alleviate liquidity concerns. Meanwhile, over the weekend the PBOC’s quarterly report warned not only on growth risks but also on rising inflation, highlighting the limited room that monetary policy has to respond.
  • The PBoC also said in the report that it will “increase counter-cyclical adjustment” to ward off downward pressure on the economy while adding that monetary policy will “properly handle the short-term pressure,” making sure not to offer excessive funding, while keeping an eye on the risk of expectations that inflation may spread.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00