The PBOC raised its reserve requirement ratio by another 50 basis points in late Asian session trade today, but so far the Chinese central bank has not raised its benchmark interest rate sending a wave of relief through the currency market as risk FX rallied on the news. The Aussie was the biggest beneficiary of the night picking up nearly 50 points in gains after an initial dip lower. The pair rose to a session high of .9890 as traders viewed the move by PBOC as a relatively benign measure to contain inflation that is unlikely to hurt growth.
How the Bank Influences an Economy???
by FX360
No comments:
Post a Comment