Recent media speculation has been confirmed today with an announcement from People's Bank of China. Chinese central bank decided to lower reserve requirement ratio by 0.25%. According to PBoC, move will free up 500 billion yuan, slightly less then $70 billion, in long-term liquidity. Cut will become effective on December 5, 2022. Equity markets jumped in a knee-jerk move but gain was quickly erased and now DE30 and US500 trade below pre-announcement prices. CHNComp erased gain and trades flat compared to pre-announcement level.
Source: xStation5
Daily Summary- Wall Street Holds Firm While Commodities Plunge on Hawkish Fed
US OPEN: Indices rebound in anticipation of Micron's results
Market Wrap: Defense stocks in panic🚨Rheinmetall tumbles 13%
Economic calendar: German Ifo data and Micron earnings in focus (24.06.2026)