PBOC seen unlikely to change reverse repo rate in March – China Press

Anil Panchal FXStreet

“The People's Bank of China (PBOC) is unlikely to cut the reverse repo rates this month since it left the rate on medium-term lending facility unchanged last week, a sign it intends to ‘hold steady’ in the near term and sees current liquidity supply and demand stable, the Securities Daily said citing analyst,” said Reuters.

The news also mentioned that the PBOC increased injections on Thursday and Friday, pushing down the benchmark DR007.

“The increased injections also served to meet higher demand in the second half due to more tax payments and China Government Bond issuances,” added the news per Reuters.

Read: USD/CNY to reach 6.70 by year-end fueled by policy divergence between PBoC and Fed – Commerzbank

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Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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