PBOC sets USD/ CNY reference rate for today at 6.8878 (vs. yesterday at 6.8807)
People's Bank of China
Injects 200bn yuan via 14 day RRs today.
For the week injects a total of 900 bn yuan
- 600 bn yuan through 14-day reverse repo
- 300 bn yuan via MLF loans
- the highest one-week injection on record
Bring on the New Year holiday (liquidity provision ahead of this)