PBOC sets USD/ CNY mid-point today at 6.9718 (vs. Friday at 6.9681)

The reference rate for onshore yuan trading for the session ahead.

• The People's Bank of China allows USD/CNY to trade plus or minus 2% from this rate

People's Bank of China skips OMOs again today

The latest RRR cut comes into effect today:

• China cuts RRR by 50 basis points
• People's Bank of China to cut RRR by 50 basis points from January 6