Following two back-to-back days of stronger Yuan setting by the Chinese central bank (PBOC), it announced injection of liquidity into the markets, via its one-year medium term lending facility (MLF) on Thursday.
The PBOC injected CNY 400bn added into system at rate unchanged at 3.3% and offsetting the 383bn yuan maturing.
Adding to this, the central bank drained CNY 30bn via 7-day reverse repos.
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