The People’s Bank of China made no changes to its one-year and five-year loan prime rates. The central bank also announced an increase to the cross-border macro ratio, opening the door to increased overseas borrowing by Chinese companies.
China State Council repeated that it will work to “optimize conditions” for the private economy.
Hong Kong’s June CPI 0.2% m/m (last -0.3%); 1.9% yr/yr, as expected (last 2.0%)