China Securities Journal: PBOC may cut OMO rates this month

China’s Securities Journal announced on early Wednesday that the People’s Bank of China (PBOC) may cut open market operations (OMO) rates this month.

With this, the PBOC will use its tool to infuse liquidity to ward off the economic implications of coronavirus (COVID-19).

Following the news, the risk-tone witnessed additional burden with Gold prices rising to a one-week high surrounding $1,653.