PBOC sets USD/ CNY reference rate for today at 7.0078 (vs. estimate at 6.9722)

Earlier:

• PBOC is expected to set the USD/CNY reference rate at 6.9722 – Reuters estimate

Thursday:

• China new bank lending stumbles once again in 2025
• PBOC to cut rates on various structural policy tools by 25 bps

PBOC injects 86.7bn yuan through 7-day reverse repos at an unchanged rate of 1.4%.