Wednesday 20 April will bring the 1 and 5 year loan prime rate (LPR) settings from the People’s Bank of China.
Expected at 0130 GMT but it has been earlier.
Goldman Sachs says a cut is unlikely. GS remarks come after the PBOC left rates unchanged on its latest MLF on Friday:
PBOC kept its key MLF policy interest rate unchanged on Friday
GS said on the MLF rollover at an unchanged rate that the PBOC seems concerned about “spillover effects” as other countries raised interest rates. For example, capital outflow from China. Also, the PBOC is concerned that cutting interest rates would not have much effect on an economy in which credit demand was weak and the outlook for inflation uncertain.