China PBoC Interest Rate Decision came in at 3.35%, below expectations (3.45%)

Jul 22, 2024

EUR/USD holds positive ground near 1.0900 amid weaker US Dollar

The EUR/USD pair gains ground near 1.0895 during the early Asian session on Monday.

PBoC cuts 10 bps to the 1-year and 5-year Loan Prime Rate

The People's Bank of China (PBoC) announced on Monday that it cut the one-year Loan Prime Rate (LPR) by 10 basis points (bps) from 3.45% to 3.35% and cut the five-year LPR from 3.95% to 3.85%.