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On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8854 compared to last Friday's fix of 6.8929 and 6.8773 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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On Tuesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8854 compared to last Friday's fix of 6.8929 and 6.8773 Reuters estimate.
澳元/美元在前一交易日录得小幅上涨后企稳，周二亚洲时段徘徊于0.6920附近。澳大利亚标准普尔全球采购经理人指数（PMI）数据公布后，该货币对波动有限。
AUD/USD steadies after registering modest gains in the previous trading day, hovering around 0.6920 during the Asian hours on Tuesday. The pair shows limited movement following the release of Australia’s S&P Global Purchasing Managers’ Index (PMI) data.
澳大利亞 三月 TD-MI Inflation Gauge (MoM)从前值-0.2%增加至1.3%
Australia TD-MI Inflation Gauge (MoM) increased to 1.3% in March from previous -0.2%
白银（白银/美元）连续第二天延续横盘整理走势，周二亚洲时段稳守在73.00美元附近。
Silver (XAG/USD) extends its sideways consolidative price move for the second straight day and holds steady around the $73.00 mark during the Asian session on Tuesday.
美国原油基准西德克萨斯中质油（WTI）在周二亚洲早盘交易时段交投于约103.60美元附近
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.60 during the early Asian trading hours on Tuesday.