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The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Wednesday at 6.8680 compared to the previous day's fix of 6.8854 and 6.8369 Reuters estimate.
The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market.
The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.
Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi.
Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
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The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Wednesday at 6.8680 compared to the previous day's fix of 6.8854 and 6.8369 Reuters estimate.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.05 during the Asian trading hours on Wednesday.
美元/瑞郎（USD/CHF）货币对在周三亚洲时段遭遇大量抛售，因美元（USD）普遍走弱，跌至两周低点。
The USD/CHF pair attracts heavy selling during the Asian session on Wednesday and dives to a two-week low amid a broadly weaker US Dollar (USD).
纽元/美元连续第三天上涨，周三亚洲时段交易于0.5790附近。由于美国总统唐纳德·特朗普同意暂停对伊朗的轰炸两周，风险偏好情绪推动该货币对上涨。
NZD/USD extends its winning streak for the third successive day, trading around 0.5790 during the Asian hours on Wednesday. The pair appreciates amid risk-on sentiment after US President Donald Trump agrees to suspend Iran bombing for two weeks.
日本 日本贸易帐（财务省）: ¥2709B (二月) vs前值 ¥3145B
The USD/CAD pair declines to around 1.3835 during the early Asian trading hours on Wednesday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) after Iran agrees to a two-week ceasefire with the United States (US).
日本 二月 日本贸易帐（财务省）从前值¥3145B回落至¥2.709B