Bloomberg asked the People's Bank of China if the bank had intervened in the yuan and HIBOR in the last week

  • Specifically, Bloomberg asked if the tightness was due to the PBOC not rolling over forwards/swaps that have matured
  • PBOC responded that reports it was involved in yuan liquidity tightness are untrue

The background to this was the surge in overnight CNH loan rates in HK (CNH-HIBOR)

Not us, says the PBOC ....

Huh ....