– And 30bn yuan through 14-day reverse repos
– And 60bn yuan through
Yes, that’s right, using 28 day reverse repos today too. In late August the PBOC re-introduced 14-day reverse repos in addition to their use of 7-day reverse repos. One of the bank’s aims was to curb short-term borrowing used to purchase longer term bonds; and this is behind the use of 28-day reverse repos now.
PBOC sets USD/CNY mid-point today at 6.6726 (vs. yesterday at 6.6908)
