“China's monetary policy has sufficient space and tools to cope with any new challenges in the second half of the year,” the Economic Daily said in its editorial op-ed piece on Monday.
Key takeaways (via Reuters)
“There is still room for lowering the reserve requirement ratio, as the weighted average deposit reserve ratio of financial institutions is currently 8.1%.”
“Meanwhile, the foreign exchange market is more resilient with more stable cross-border capital flows, as market players are more adaptable and tolerant to the ups and downs of the yuan, providing a better foundation to resist external shocks.”
- AUD/USD remains firmer past 0.6800 amid cautious optimism, RBA/Fed chatters in focus
