PBOC sets USD/CNY mid-point today at 6.6397 (vs. Monday at 6.6487)

Earlier:  PBOC checking demand from banks for MLF loans (potential operation on Friday)
OMOs today:

  • inject 140  bn yuan via 7 day reverse repos
  • inject 60  bn yuan through 14 day reverse repos
  • inject 100  bn yuan through 63-day reverse repos

Net injection is 60bn yuan (i.e. 240bn yuan in RRs maturing)
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