The PBOC will also reduce mortgage rates by 50bp, lower the down payment ratio for second homes, and explore options for banks to purchase land from developers. Additionally, an RMB 500bn liquidity program for non-bank financial institutions and a re-lending initiative for share buybacks were announced.
Shares slip in Asia, dollar firm as inflation, earnings loom
The impact of the jobs report on U.S. rate cut prospects also raised the stakes for consumer price figures on Wednesday where any rise in