PBOC sets USD/ CNY reference rate for today at 7.0365 (vs. Friday at 7.0312)
People's Bank of China sets the onshore yuan mid rate slightly weaker for the yuan to open the week.
Injects 20bn yuan via 7 day RRs (30bn mature thus a net 10 drain)
- China - PBOC to announce new reference rate for bank loans, to lower borrowing costs to firms
- China interest rate liberalisation announced- one step closer to free-floating yuan
more to come