The People’s Bank of China (PBOC) issued a statement on Friday announcing that China’s Deputy Central Bank Governor participated in the ASEAN and China-Japan-South Korea Finance and Central Bank Deputies Meeting, held on April 8-9.
Key Takeaways:
The meeting focused on the impact of U.S. tariffs on both global and regional macroeconomic conditions. It served as a platform for exchanging perspectives on the current economic landscape and enhancing regional financial cooperation. In line with ongoing efforts to support the economy, participants agreed to adopt a moderately loose monetary policy. This approach aims to ensure the smooth functioning of financial markets and bolster the continued recovery of the Chinese economy.
Market Reaction:
The U.S. Dollar Index showed a modest recovery, maintaining levels above 100.00, despite experiencing a 0.74% drop on the day.
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