Peoples Bank of China

Large Jump in European Long-Term Interest Rates

September 20, 2022

Today is the Astart of the FOMC’s sixth scheduled policy review in 2022.  A third straight 75-basis point hike to a range of 3.0-3.25%  is anticipated, with the announcement due Wednesday at 14:00 EDT (18:00 GMT). Meantime, officials at the Swedish Riksbank today exceeded street expectations with a policy interest rate hike of a full […] More

Tightening Monetary Policies Continue to Lift the Dollar but Depress Share Prices

August 22, 2022

Financial markets are in a risk-averse mood ahead of the annual Jackson Hole Symposium that begins at the end of this week. U.S. stock futures were down 1.0-1.5% shortly before the opening bell. European stock markets had sunk so far today by 2.1% in Germany, 1.7% in Italy, 1.6% in France and 1.0% in Spain. […] More

Rising Inflation Dampening the Mood of Consumers Around the World

May 20, 2022

Amid bear markets, investors periodically test the waters in search of good values. Today has been one such day. The week will end with huge net share price declines, but on this Friday equities closed up 3.0% in Hong Kong, 2.9% in India, 1.8% in South Korea, 1.6% in China and Singapore, 1.4% in Indonesia […] More

Good Friday 2022 Brings Many Market Closures and a Focus on Russia and China

April 15, 2022

A great many markets will not be trading today, including those in the U.K., Germany, France, Italy, Spain, Switzerland, Australia, New Zealand, Hong Kong, Singapore, India, Canada, and the United States. Some U.S. economic data are being reported later, however, such as industrial production, capacity utilization, the Empire State monthly manufacturing survey, and Treasury-compiled international […] More

Second Chinese Interest Rate Cut This Week

January 20, 2022

Officials at the People’s Bank of China, who on Monday of this week had cut their 1-year and 1-week interest rates by five and 10 basis points respectively, doubled down today with a reduction of another ten basis points in the 1-year loan prime rate to 3.70% as well as a 5-basis point cut of […] More

Dollar Little Changed on Day that Saw Many Central Bank Meetings and Thick Menu of Released Data

January 20, 2022

The weighted dollar edged up by a marginal 0.1% overnight. It gained 0.1% against the euro and Swiss franc but is unchanged against the yen and sterling and down 0.1% versus the Canadian dollar. Stock market action in the Pacific Rim was widely varied, with Japan Nikkei and Hong Kong’s Hang Seng indices closing 1.1% […] More

A Turn for the Worse on Several Fronts Sends Equities Sharply Lower Around the World

December 20, 2021

The highly infectious Omicron Variant of Covid 19 is threatening to overwhelm hospitals and forcing authorities in many places to reimpose tighter restrictions against social gathering. Pfizer’s Covid vaccine trial on kids aged 2-5 did not result  in an immunity rise as had been expected, which creates a childcare crisis and will likely prevent many […] More

Stocks Attempt to Bounce but Outlook Uncertain

July 9, 2021

Following Thursday’s wave of risk aversion, equities and sovereign debt yields rose in early Friday trading, and the dollar edged lower. Several Chinese and British data were release. The People’s Bank of China cut reserve requirements by 50 basis points, which is projected to release about one trillion yuan of extra liquidity and hopefully buttress […] More

Focus in Last Week of February to Be on U.S. Economic Policy

February 22, 2021

U.S. stock futures this Monday point to a lower open, with the S&P index down 0.8% and the Nasdaq off 1.4%. Share prices closed down 1.5% in China, 1.2% in New Zealand, 1.1% in Hong Kong and 0.9% in South Korea, while in Europe, equities are thus far down 0.5% or more in the U.K., […] More

Rise in Dollar and Share Prices

October 12, 2020

The People’s Bank of China over the weekend slashed reserve requirements on foreign exchange deposits to zero percent in a move to counter recent strength in the yuan, which gained 0.8% overnight. The move also buoyed China’s stock market by 2.6%. Other dollar gains overnight amount to 0.7% versus the Mexican peso, 0.4% relative to […] More