PBOC sets USD/CNY reference rate at 7.0510 vs. 7.0531 previous

On Tuesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.0510, as compared to the previous day's fix of 7.0531 and 7.0495 Reuters estimates.

PBoC Governor: China will cut reserve requirement ratio by 50 basis points

People’s Bank of China Governor Pan Gongsheng said during a press conference on Tuesday that China will cut the amount of the reserve requirement ratio (RRR) by 50 basis points (bps).
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