China’s central bank announced a series of measures to support cross-border fund flows, in an apparent effort to avoid a potential liquidity crunch in the offshore yuan market around June 1.
PBOC will maintain its neutral monetary policy and keep liquidity and credit growth largely steady while keeping the yuan currency basically stable, it said.
China’s central bank will maintain its neutral monetary policy and keep liquidity and credit growth largely steady while keeping the yuan currency basically stable, it said on Friday.
‘Yuan is forecast to move only a little in coming months as authorities keep a tight leash on currency until it becomes clear whether the trade spat with US will worsen.’
HNA Group is selling a real-estate focused unit for 2.9 billion yuan,amid a broader sell down by the debt-laden conglomerate as it looks to raise funds.
Essilor, which is in the process of merging with Italian peer Luxottica, reported a dip in first-quarter sales on Friday as currency swings impacted its business.
Profit growth at Chinese industrial firms slowed to its weakest pace in over a year in March, in a sign of increasing headwinds for the world’s second-largest economy.
The euro EUR=EBS briefly jumped to the day's highs of $1.2378 and was up 0.4 percent on the day.
China’s central bank said it will skip open market operations as liquidity levels in the banking system were “relatively high”.
The dollar was 0.3 percent higher at 107.07 yen JPY=, having pulled higher from a low of 105.99 set the previous day.
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