PBoC injects CNY 75bln via 7-day reverse repos with the rate at 1.40%
The PBoC's injection of CNY 75 billion through 7-day reverse repos at a rate of 1.40% indicates a dovish stance aimed at enhancing liquidity in the market.
Chinese RatingDog Manufacturing PMI (Jan) 50.3 vs. Exp. 50.3 (Prev. 50.1)
PRE-MARKET CHINESE STOCKS NEWS: Chinese official PMIs slipped into contraction territory
PBoC injects CNY 75bln via 7-day reverse repos with the rate at 1.40%
PBoC sets USD/CNY mid-point at 6.9695 vs exp. 6.9710 (Prev. 6.9678)
[MARKET UPDATE] Commodity prices are further pressured as Shanghai and LME futures trading gets underway with SHFE most active nickel contract slipping more than 7%, while spot gold is at fresh session lows with losses of around 5.7%
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This action suggests the central bank is looking to support growth amid potential economic pressures without immediate plans to tighten policy, which could affect the CNY's performance and overall risk sentiment in Asia.
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