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| HSI1 | 22,881.02 | -145.66 | 308.05B |
| HSCEI1 | 7,558.30 | -47.04 | 109.39B |
| Back Zoom + Zoom - Block Traded | |
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2026-06-30 12:17:58 The People's Bank of China (PBOC) reportedly set the newly launched overnight reverse repo rate at 1.25% yesterday, 10 bps below consensus, while keeping the 7-day reverse repo rate unchanged at 1.40%, Citi said in its report. This asymmetric operation may signal an easing bias, though it does not constitute a formal rate cut. The 15-bp term premium between the overnight and 7-day rates looks too wide compared with market rates. Citi maintained a view differing from consensus, expecting the 7-day reverse repo rate and the Loan Prime Rate (LPR) to be cut by 10 bps in 2H26, with risks tilted toward an earlier move. In Citi view, the odds of a substantive LPR cut on July 20 is now increasing. Beyond interest rates, fiscal acceleration - including bond issuance, fund disbursement and the RMB800 billion quota - is already underway. Nevertheless, Citi did not foresee a policy shift at the Politburo meeting in July. ~ AASTOCKS Financial News Website: www.aastocks.com | |