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Main » 2019 » November » 5 » DAILY NEWS - The US and China are negotiating the cancellation of earlier imposition of duties
09:33
DAILY NEWS - The US and China are negotiating the cancellation of earlier imposition of duties

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  1. Reserve Bank of Australia kept interest rates at 0.75%
  2. PBOC lowered MLF rate from 3.3% to 3.25%
  3. The US and China have nearly completed the first phase of trade negotiations

 

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The Reserve Bank of Australia decided to leave interest rates unchanged at 0.75%. The regulator is ready to go for further easing of monetary policy in the event of deterioration in the economy. Over the past three months, forecasts for major economic indicators have not changed. Inflation in line with expectations. Most likely the regulator will take some pause to assess the economic impact of previously adopted measures to mitigate the monetary policy. As part of the basic forecast for the current year is expected to economic growth by 2.25%. In 2020 it is projected to rise to a level of 3%. The Australian dollar reacted to the decision of the RBA rise of 0.3%.


Today, the People's Bank of China lowered the rate in the medium-term lending program (MLF) from 3.3% to 3.25%. The controller uses this program to increase liquidity in the commercial banks, but today the Central Bank has poured into the banking system 400 billion. Yuan (US $ 57 billion.). Thus the People's Bank of China is trying to reduce the cost of financing in the face of slowing economic growth.


In the meantime, some news sources have reported that the US and China are actively negotiating a partial lifting of duties previously imposed under the interim conclusion of foreign trade agreements. The first part of the agreement will include conditions for purchases of US agricultural products by China, the rules limiting the possibility of manipulating the exchange rate, certain provisions on the protection of intellectual property rights and increase the openness of the Chinese economy for the United States.

 

News, which you should pay attention today:

09:30 GMT. United Kingdom: PMI services sector

15:00 GMT. US: PMI non-manufacturing sector from the ISM

 

NEWS DAILY  FORTFS

 

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News → DAILY NEWS - A new round of trade negotiations between the US and China will start on October 10-11

 

 

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