PBoC sets USD/CNY mid-point at 6.8654 vs exp. 6.8313 (Prev. 6.8649)
The People's Bank of China's mid-point setting for the USD/CNY at 6.8654 indicates a weaker yuan than expected, as it surpassed the forecast of 6.8313.
Chinese Inflation Rate YoY (Mar) Y/Y 1.0% vs. Exp. 1.2% (Prev. 1.3%)
PBoC injects CNY 2.0bln via 7-day reverse repos with the rate at 1.40%
PBoC sets USD/CNY mid-point at 6.8654 vs exp. 6.8313 (Prev. 6.8649)
BoJ Deputy Governor Himino says no strict definition on what constitutes stagflation, adds must be vigilant to chance Middle East conflict, which if prolonged, could work to weigh on the economy and push up inflation
PRE-MARKET CHINESE STOCKS NEWS: Chinese CPI & PPI data is scheduled at the open
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This depreciation signals potential PBoC support for export competitiveness and could imply a more dovish monetary stance, impacting market sentiment toward the yuan and broader risk assets.
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