PBOC is unlikely to lower interest rates or RRR – China Press

Dhwani Mehta FXStreet

The People's Bank of China is unlikely to lower interest rates or the Reserve Requirement Ration (RRR), China’s state media reported on Tuesday.

Separately, citing analysts, the Securities Daily reported, “China is expected to further increase its use of pro-growth policies, with fiscal and monetary policy becoming fully coordinated in the second half of 2022.”

Meanwhile, China Daily carried a story, citing that the country’s “electricity consumption, a key barometer of economic activity, has been rising in recent periods, indicating the continuous recovery of production and economic operations.”

The recovery in the growth rate of electricity consumption in June reflected the positive effects of the current resumption of work and production, said Wang Yixuan, an official with the China Electricity Council.

Related reads

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD flirts with two-day lows near 1.3180

GBP/USD remains on the back foot in the latter part of Tuesday’s session, sliding to the sub-1.3200 area and challenging weekly lows. Cable’s decline comes as investors assess the political uncertainty in the UK, coupled with softer-than-expected UK PMI data and the better tone in the Greenback.

EUR/USD remains offered around 1.1380

EUR/USD keeps the bearish tone well in place on Tuesday, revisiting the 1.1380 region for the first time since June 2025. The continuation of the move higher in the US Dollar coupled with mixed PMI readings from Germany and the Eurozone keeps the pair’s downside unchanged for now.

Gold appears supported near $4,100 for now

Gold rapidly reverses Monday's bounce and is trading sharply lower on Tuesday. The yellow metal, however, manages well to keep business above the $4,100 mark per troy ounce despite a firmer US Dollar and expectations that the Fed will keep rates higher for longer.

MiCA regulations could be the next bullish catalyst for crypto – Georg Harer, co-CEO at Bybit EU

The cryptocurrency market is losing momentum and liquidity due to the lack of a bullish catalyst. In an exclusive interview with FXStreet, Georg Harer, co-CEO at Bybit EU, says that the Markets in Crypto-Assets (MiCA) regulations could inject liquidity into the crypto market from traditional fund houses.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.