PBOC sets USD/ CNY reference rate at 7.0572 (vs. estimate 7.0407)

December 22, 2025
-FXnews

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). A higher-than-expected USD/CNY midpoint is typically read as a sign the PBOC is leaning against CNY appreciation pressure, like today.

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In other news from the People’s Bank of China, China Loan Prime Rates remain unchanged again, marking the seventh consecutive month without a change

PBoC sets 5 year at 3.50% (vs. exp. 3.50% and prior 3.5%)

1 year at 3.00% (vs.exp. 3.0% and prior 3.0%)

A look at the past changes in the LPR, since early 2022:

China’s main policy rate is now the reverse repo rate, currently at 1.4% for the 7-day.

The 7-day rate serves as a key policy benchmark, influencing other lending rates like the Loan Prime Rates (LPRs)

PBOC sets USD/ CNY reference rate at 7.0572 (vs. estimate 7.0407)

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