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..”

This article was written by Eamonn Sheridan at investinglive.com.



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