The People's Bank of China (PBOC) cut the seven-day repo rate to 1.5% from 1.7% on Friday.
The People's Bank of China cut the seven-day repo rate to 1.5% from 1.7% on Friday. Additionally, the Chinese central bank announced to cut the amount of the reserve requirement ratio ,the required minimum capital banks must hold in reserve, by 50 basis points . Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar is the level of interest rates set by the Reserve Bank of Australia .
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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