Pan Gongsheng, governor of the People’s Bank of China, said the monetary authority might restart trading Treasury bonds in secondary markets, a policy shift that could rewrite the way Beijing manages liquidity.
Norway’s central bank held its key policy rate at 4.5% and reiterated guidance that the rate is likely to stay at that level for some time, as high wage growth is expected to keep inflation elevated.
Oil prices were broadly steady in Europe, as expectations of a tighter market balance over the summer and persistent geopolitical risks continue to support sentiment.
Copper is likely to face more downside than upside risks over the next year, StoneX Intelligence said, with China’s economic recovery facing huge hurdles, the Chinese property sector facing structural issues, and as geopolitical tensions weigh on demand.
The Norges Bank is likely to keep its key interest rate at 4.5% for longer, supporting the Norwegian krone, Commerzbank said, ahead of the central bank’s policy decision and rate forecasts at 0800 GMT.
