China`s central bank News

China`s central bank set the yuan`s central parity rate weaker than 6.7 to the dollar for the first time in six years Monday, the first day of trading after it joined the IMF`s "special drawing rights" reserve currency basket.  

China`s central bank lent 275 billion yuan ($41.24 billion) via its medium-term lending facility (MLF) to financial institutions in September, it said in an online statement on Saturday.

 China`s central bank on Monday pumped more money into the market to provide liquidity.

The Chinese market crash triggered steep declines across global financial markets and within a few hours the Fed sent China`s central bank a trove of publicly-available documents detailing the US central bank`s actions in 1987.

Asian stocks were firm on Tuesday after China`s latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt.

Hong Kong stocks ended the morning session 1.50 percent higher Monday, with investors piling into the market after the head of China`s central bank hinted at further easing measures to boost the economy.

China`s manufacturing growth skidded to an eight-month low in November, an official survey showed Monday, signalling further downward pressure on the world`s second-largest economy.

The injection follows signs that Chinese investors are beginning to bet that the PBOC is going to reduce the official deposit rate, now fixed at 3 percent.

China`s central bank is injecting a combined 500 billion yuan (USD 81.35 billion) of liquidity into the country`s top banks, according to media reports, a sign that authorities are stepping up efforts to shore up a faltering economy.