RAYC - China's Sluggish May Economic Data To Increase Calls For Rate Cuts
2024-06-17 12:10:00 ET
Summary
- The People's Bank of China kept the one-year medium-term lending facility rate unchanged at 2.5% today, in line with market expectations.
- We believe that in conjunction with today's data releases and the start of rate cuts in other central banks such as the European Central Bank and Bank of Canada, the odds of a PBoC rate cut in the coming months have risen.
- May retail sales rose to 3.7% YoY, up from 2.3% YoY in April.
By Lynn Song
Rates still on hold but likelihood of cuts are rising
The People's Bank of China kept the one-year medium-term lending facility rate unchanged at 2.5% today, in line with market expectations....
China's Sluggish May Economic Data To Increase Calls For Rate Cuts