The People’s Bank of China is having a monetary policy meeting. A key macroeconomic factor currently is the Evergrande debt crisis and over-leveraged property developers in China. Although there is generally a ban on Crypto in China, Asian markets in particular have been concerned with the growing debt crisis in China and reacting strongly to developments in the property sector. The central bank may adjust policies to try stimulate demand for real estate, which has been decimated in recent months.
For more information on how central bank monetary meetings effect Crypto, click here.
