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Forex Flash: PBOC rate cut is not a tonic for the markets - BBH
FITITOL--> FXstreet.com (Córdoba) - PBOC rate cut is not a tonic for the markets, according to the BBH analyst team. "As we've noted before, the macro backdrop in China appears to be deteriorating faster than is recognized or desired"."We have likely entered into a more aggressive phase of the easing process, and while timing of the next move is always pure guesswork, we would not be surprised to see PBOC easing of one form or another on a monthly basis in Q3 and Q4", they add. "Data deluge begins next week in China, with most likely to show continued softness that would explain this week's rate cut".
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