China’s Central Bank Conducts 65 Billion Yuan 7-Day Reverse Repo at 1.40%

The unchanged 1.40% rate on the PBOC's 7-day reverse repo signals the central bank is holding its policy stance steady, prioritizing liquidity management over fresh easing. The net injection of 65 billion yuan, with no maturities offsetting it, points to a deliberate effort to keep short-term funding conditions comfortable — a signal that matters for risk assets, including crypto, which have grown sensitive to Chinese liquidity cycles. Whether the PBOC maintains this injection pace or shifts to a neutral or draining posture is the open question for gauging near-term risk appetite.