PBoC's new emphasis on overnight money market rate has reportedly sparked speculation it could become the main policy target
The PBoC's focus on the overnight money market rate as a potential primary policy target indicates a shift in how it may approach monetary policy.
Malaysian GDP Growth Rate QoQ (Q4) Q/Q 0.8% (Prev. 2.7%, Rev. From 2.4%)
PRE-MARKET INDIAN STOCKS NEWS: ONGC (ONGC) Q3 (INR) profit rose 22.6% Y/Y to 119.5bln, rev. rose 0.1% Y/Y to 1.67tln
PBoC's new emphasis on overnight money market rate has reportedly sparked speculation it could become the main policy target
Japan sells JPY 649.5bln in 10yr, 20yr and 30yr JGBs in enhanced liquidity auction; b/c 2.95 vs. Prev. 2.58
BoJ's Tamura says he feels Japan's recent inflation is becoming sticky and reiterates will keep raising rates if outlook is met, adds we may be able to judge that BoJ's price goal has been achieved as early as this spring
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This could lead to tighter liquidity conditions if the rate is lifted, impacting everything from CNY valuation to broader fixed income markets. Traders should watch for possible ripple effects on yields and risk sentiment as this development evolves.
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