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China's central bank lowers the lending prime rate (LPR): China's central bank lowered the five-year LPR by 25 basis points to revitalize the real estate market, the largest cut since 2019.
PBOC's stimulus measures: The PBOC shows its willingness to reduce the LPR and promote home purchases and infrastructure investment to respond to the economic threat posed by the real estate recession.
Risk proxy currencies and the Chinese economy: Australian dollars, Korean won, etc. are highly exposed to the Chinese economy and are considered 'risk proxy currencies' and act as a proxy for the Chinese yuan.
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