FXStreet reports that Lee Sue Ann, an economist at UOB Group, suggests that the PBoC will refrain from acting on rates, when it meets on Friday.

“With another CNY3.75 trillion of MLF maturing the rest of the year, the PBoC may need to cut the RRR further to pump more liquidity back into the system.”

“However, we maintain our expectation for the PBoC to keep its benchmark 1Y LPR and the 5Y & above LPR unchanged at 3.85% and 4.65%, respectively, for the rest of the year.”