(Bloomberg) -- China’s central bank chief said it is studying how to implement government bond trading with the finance ministry, while rejecting the idea...
-- China ’s central bank chief said it is studying how to implement government bond trading with the finance ministry, while rejecting the idea the practice would equate to quantitative easing .Stocks Rise as Bullish Nvidia Call Boosts AI Trade: Markets Wrap
The remarks come as expectations are growing that the PBOC will start purchases and sales of government bonds, after comments made public this year indicated that President Xi Jinping called for such a tool to regulate liquidity during a major financial meeting last year. However, there have been few details on how this may be done and when it may begin.
He also signaled there is more room to ease monetary policy as other economies are pivoting to cut rates this year. The appreciation momentum of the dollar is weakening, which will help keep the yuan stable and expand the room for China’s monetary policy, he said. Market has been watching out for further actions from the central bank to cool down the bond rally. China’s 10-year government bond futures closed at a record high this week, while 30-year sovereign yields fell below 2.5% on Tuesday, breaching the “reasonable range” of 2.5%-3% previously laid out by Financial News, a PBOC-managed newspaper.
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