POLICY & REGULATION
PBOC drains net 2 bn yuan from banking system via open market operation
The People’s Bank of China injects 2 billion yuan liquidity to the banking system via 7-day reverse repo on Tuesday, with the rate unchanged at 1.8%, while 4 billion yuan reverse repo expires, leaving a net 2 billion yuan drained from the market.
PBOC cut yuan’s fixing against US dollar by 29 pips on Tue
The People’s Bank of China (PBOC) cut the yuan’s fixing by 29 pips to 7.1135 per dollar on Tuesday, compared to a fixing of 7.1108 in the previous trading day.