The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. How does it do that? More here.
- Injects 425bn yuan via 7-day reverse repos in open market operates today. Unchanged rate of 1.4%.
ps, Bloomberg report:
- "Chinese municipalities are intensifying property support measures by expanding housing subsidy programs and optimizing provident fund rules, moves aimed at lowering home-buying costs and stabilizing a sluggish real estate market.."
