The People's Bank of China is unlikely to lower interest rates or the Reserve Requirement Ration (RRR), China’s state media reported on Tuesday.

Separately, citing analysts, the Securities Daily reported, “China is expected to further increase its use of pro-growth policies, with fiscal and monetary policy becoming fully coordinated in the second half of 2022.”

Meanwhile, China Daily carried a story, citing that the country’s “electricity consumption, a key barometer of economic activity, has been rising in recent periods, indicating the continuous recovery of production and economic operations.”

The recovery in the growth rate of electricity consumption in June reflected the positive effects of the current resumption of work and production, said Wang Yixuan, an official with the China Electricity Council.

Related reads

• AUD/USD slides towards 0.6950 despite firmer Aussie NAB data, US inflation eyed
• Sino-US interest rate gap to remain inverted for a long time, cut to RRR unlikely