PBoC sets USD/CNY reference rate at 7.1070 vs. 7.1006 previous

On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1070 as compared to Friday's fix of 7.1006 and 7.2088 Reuters estimates.

PBoC injects 100 billion Yuan via 14-day reverse repos with a rate at 1.95%
500 billion Yuan of RRs mature today, summing to a 400 billion Yuan drain on the day in OMOs.

Feb 5, 2024

China pledges to stabilize markets, offers no detail

China vowed to stabilize markets as shares fell to a five-year low in turbulent trading on Friday, but Chinese authorities provided no details on how they plan to stop a selloff that has wiped out more than $6 trillion in value and eroded confidence in the world's second-largest economy.

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Feb 5, 2024

PBOC’s 50 bps RRR cut takes effect on Monday

The People's Bank of China (PBOC) cut to the reserve requirement ratio (RRR) takes effect today.

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