PBOC injects 130bn yuan via 7-day reverse repos

Yuan strength today from the People's Bank of China. The USD was weaker since the previous mid-point set. That didn't matter last week, but seems to be back in the algo this week.

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Recent headline (in the Securities Daily, via Bloomberg):

  • China prudent monetary policy should do more

Scratchin' my head on that one.

More on that headline. Its from an opinion piece:

  • There is room for a cut in the RRR & the benchmark rate
  • There is an expectation of a cut in the RRR & benchmark rate also
  • During the process of supply-side reform, monetary policy can do more while maintaining a prudent stance

(via MNI)