The People's Bank of China opened the doors a little earlier today, saying (again!) they'd maintain reasonable liquidity and focus on deleveraging and reforms.
Those comments from an official, via Bloomberg. The official was unnamed so I guess they'll be followed up by 'fake news!' tweets during the commercial breaks on the telly. Or maybe not ;-)
OK, back to real news ...
- The USD/CNY mid rate is the strongest for the yuan since October of last year
In open market operations the bank is
- to inject 100bn yuan via 7 day reverse repos
- to inject 40bn yuan through 14 day reverse repos
40bn yuan in RRs mature today, so a net injection of 100bn yuan. The PBOC OMOs on Monday and Tuesday were large injections, same again today.
