China’s central bank cut the funding cost of 14-day reverse repos after injecting 150B yuan through the liquidity tool into the banking industry. CSI 300 Index up +0.16%, CNY USD up +0.20%
- The 14-day reverse repurchase rate was reduced by 10 basis points to 2.25% from the initial rate, 2.35%.
- In an online statement, PBOC stated that the liquidity offerings sought to maintain stable liquidity Before the Lunar New Year.
- The cut to the interest rate of 14-day reverse repos was normal. Traders expected the cut after PBOC reduced a series of key short-and medium-term rates the prior week.