Onshore yuan reference rate for the day, weaker for the CNY today

In open market operations today the People's Bank of China

  • to inject 100 bn yuan via 7 day reverse repos
  • to inject 40 bn yuan through 14 day reverse repos

140bn yuan in RRs mature today

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Earlier today the China Securities Journal reported that liquidity in the money market is expected to stabilise and improve in the short term.