PBOC sets USD/ CNY reference rate for today at 7.0668 (vs. yesterday at 7.0680)

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China


Inject 250bn yuan via 7 day RRs in open market operations today.
Biggest one day injection via RRs since May this year. 

Yesterday we got the LR rate set unchanged which was perceived as no extra stimulus, this injection is hefty though and might diminish that perception a little. 

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