PBOC lowers funding lending rate to small businesses

The PBOC are back from the new year holidays with a bang and are hitting the easing button.

Overnight Eamonn had the news that they cut the RRR for 5 small banks and this is another easing move

A lot of questions have been coming into the comments for the move in the aussie today, especially the move up we've seen after the capex data drop. These two stories are probably a lot of the reason for the jump back up to 0.7900

It's not a big move by the PBOC, that a broad cut of the RRR's would bring, but it's a move nonetheless