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China leaves lending benchmark LPRs unchanged as expected

SHANGHAI/SINGAPORE (Reuters) -China kept benchmark lending rates unchanged at their monthly fixing on Monday, matching expectations with Beijing seen as having limited scope for monetary easing amid downward pressure on the yuan. The decision came after the People's Bank of China (PBOC) surprised markets last week by holding its medium-term lending facility rate steady. The central bank has stood pat despite recent data underscoring the uneven nature of China's economic recovery and deflationary pressures pushing up real borrowing costs. ....

Tom Hogue , Edwina Gibbs , Tom Westbrook , People Bank , Federal Reserve , Winni Zhou , Downward Pressure , Benchmark Lending Rates , Bank Of China , China Securities Journal , Basis Points , Julian Evans Pritchard ,

Exclusive-China moves to support yuan as stock markets tumble

SHANGHAI/BEIJING (Reuters) -China's major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid, four sources with knowledge of the matter said. The goal was to prevent the yuan from falling too fast as China's A shares plunged, said one of the people, with the benchmark Shanghai Composite index posting its biggest one-day drop since April 2022 on Monday, down 2.7%. "It is a clear policy signal to stabilise the yuan and counter the negative market sentiment on equities," said Gary Ng, senior economist for Asia Pacific at Natixis. ....

Kirsten Donovan , Shanghai Composite , Beijing Newsroom , Foreign Exchange Market , State Banks , Market Sentiment ,

China's Monetary Policy: A Tightrope Walk by the PBoC

The People s Bank of China has kept its one-year and five-year lending rates unchanged due to concerns about the yuan s stability and the broader economic environment. ....

Saktiandi Supaat , People Bank , Interest Rates , Central Bank , Federal Reserve ,

Water levels in Malaga's reservoirs drop again for yet another week, despite the rain from storm Juan

Yesterday it did rain, but not enough - neither in terms of the amount nor the location of the largest accumulations - to help alleviate the drought crisis in the provinc ....

Cortes De La Frontera , Costa Del Sol , Spain General , Ignacio Lillo , El Limonero , Junta De Andaluc , Los Reales De Sierra Bermeja , Guadalhorce Valley , Los Reales ,