The People’s Bank of China (PBOC) announced on Friday that it is likely to reduce interest rates from the current 1.5% “at an appropriate time” in 2025, according to a report.
In its statement, the Chinese central bank emphasized a shift away from “quantitative objectives” for loan growth and highlighted the growing importance of interest rate adjustments. The PBOC indicated that it will focus more on managing interest rates and improving their formation and market transmission.
Following the announcement, the AUD/USD pair saw a slight increase of 0.28%, trading at 0.6220 at press time.
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