PBOC Governor Pan Gongsheng said the central bank will study switching the tenor of its main open market operation instrument from 7-day to overnight, making the overnight reverse repo rate the main policy rate.

Jin1010/19, 03:47 PM

Figures as quoted by Jin10

Market impact

Which way this story pushes each asset. An inference from the story, not a measured move.

CNY
No clear push
WeeksMedium confidence
A shift to overnight-rate targeting could change China's short-term rate signaling if it is adopted

What could change this

This remains a study rather than an adopted policy change, so the operational shift may not materialize or could be delayed.

6.6692-0.05%vs previous close

-0.18%

since this story

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This story

10/15, 04:00 AMNow