Policy interest rate is unlikely to be lowered in the near future – China Press

“The interest rate is temporarily difficult to be lowered in the third quarter of the worry-free policy,” said China Securities Journal, per a Beijing-based media outlet.

The piece also mentioned, “The first RRR cut in 2021 will be implemented on the 15th,” while also saying, “Experts reminded that the orientation of the prudent monetary policy has not changed, and the attitude of "no flooding" is resolute, and the RRR cut is ‘care’ rather than ‘doting’.”

The report also cites a survey conducted by the Huatai Securities Fixed Income Research Team to confirm that the investors "cannot see clearly" the timing of the next RRR cut. 

That said, the People’s Bank of China (PBOC) move could help AUD/USD price that recent fade recovery moves as traders turn cautious ahead of Aussie employment figures and China data dump.

Read: AUD/USD approaches 0.7500 on USD pullback, Aussie employment, China data eyed