CandleFocus China's Central Bank Halts Bond Purchases to Support Yuan
2025-01-10
Author: Content Editor
China's central bank, the People's Bank of China, has announced that it will cease purchasing government bonds this month due to a surplus of supply. This move reflects policymakers' unease with the declining bond yields and the resulting depreciation of the yuan. The yield on the 10-year Chinese government bond has dropped by 100 basis points in the past year, while the US counterpart has risen to its highest level since November 2023. The depreciation of the yuan has led to concerns of a capital flight and potential inflows into the crypto market, particularly Bitcoin.
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