China C Bank Cuts 7-Day Rate By 10 Basis Point To 2.9%; Cuts 1-Month Rate By 10 Basis Point To 3.25%; The Cut Will Be Effective From June 13
Portfolio Pulse from Benzinga Newsdesk
China's central bank has cut the 7-day rate by 10 basis points to 2.9% and the 1-month rate by 10 basis points to 3.25%, effective from June 13.
June 13, 2023 | 12:20 pm
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NEUTRAL IMPACT
China's central bank rate cuts may impact the iShares China Large-Cap ETF (FXI) as it reflects changes in the Chinese economy.
The rate cuts by China's central bank may have mixed effects on the iShares China Large-Cap ETF (FXI). On one hand, lower interest rates can stimulate economic growth, which may benefit the ETF. On the other hand, the rate cuts may signal concerns about the economy, which could negatively impact the ETF. Overall, the short-term impact is uncertain.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50