The seven-day deposit reverse repo average across China's interbank market was at 1.8300% on Thursday, lower than the close of 1.8351% on Wednesday, according to Wind Information. The overnight deposit reverse repo average was last at 1.7035%, lower than the previous 1.7134%.
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The USD/CNY fixing printed at 7.1082, versus a Bloomberg consensus of 7.2025.
ACGBs (YM -3.0 & XM -4.0) are holding cheaper but off the Sydney session’s worst levels ahead of today’s historic RBA Board Meeting, the first in the RBA’s new era that stems from a review of the central bank handed down last year.