Key Points – November Report
Introducing the updated MNI China Money Market Index (MMI), formerly the MNI China Liquidity Index, which has been adapted to reflect the PBOC's monetary policy.
Chinese interbank traders have reduced expectations for further rate cuts in 2025, but believe the central bank will increase bond purchases to meet end-of-year liquidity demand, MNI’s China Money Market Index indicated on Wednesday.
- The MNI China Money Market Index edged higher in November as traders saw modestly looser conditions.
- The MNI China Money Market Current Conditions Index was lower in November with PBOC seen adding liquidity.
- The MNI China Economic Outlook Index fell again in November as sentiment remains pressured.
The MNI survey collected the opinions of 50 traders with financial institutions operating in China's interbank market, the country's main platform for trading fixed income and currency instruments, and the main funding source for financial institutions. Interviews were conducted November 10 to 21.
