Before I go on, a comment on the wires from PBOC's Yi: Gang, Deputy Governor of the People's Bank of China.
- Price stability not equal to financial stability
- China's monetary policy, MPA, stabilise inflation
(speaking at the party congress... ps, MPA is Macro Prudential Assessment )
In Open Market Operations the People's Bank of China
- to inject 80bn yuan via 7 day reverse repos
- to inject 60bn yuan through 14 day reverse repos
OMO net injection (after accounting for maturing RRs) of 100bn yuan
