Policy support and stable fix – Commerzbank
Commerzbank’s Charlie Lay and Henry Hao note that the People’s Bank of China (PBoC) kept benchmark lending rates at record lows for an 11th straight month, with the one-year LPR at 3.0% and five-year at 3.5%. Strong 5% year-on-year Q1 Gross Domestic Product (GDP) growth has reduced pressure for broad rate cuts, while USD/CNY and USD/CNH remain near their…










