The People's Bank of China announced it will reduce the reserve requirement ratio by 50 basis points, among other measures.
Australia's central bank will also announce its rate decision on Tuesday, with economists polled by Reuters expecting the RBA to hold rates at 4.35%.The PBOC will cut the reserve requirement ratio for banks by 50 basis points, although it did not provide a specific timeline. It also announced it would cut to the seven-day reverse repurchase rate from 1.7% to 1.5%.
Other measures also include reducing down payments for second homes, as well as 1 trillion yuan of long-term funds.Australia's central bank will also announce its rate decision on Tuesday, with economists polled by Reuters expecting the RBA to hold rates at 4.35%. The Commonwealth Bank of Australia said in a note last week that the economic data flow since the last meeting"has either been softer or in line with the RBA's expectations." As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.was 1.47% higher, while the Topix gained 1% as Japanese markets returned from a holiday. This marks the first time that the Nikkei has crossed the 38,000 mark since Sept. 3.
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