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The People's Bank of China will move its main liquidity operations to a 1.25% overnight reverse repo rate from 2 November. The 7-day reverse repo, at 1.40%, shifts to fixed-quantity operations mainly around tax and month-end periods.
This is a monetary policy framework change with little direct effect on feed commodity prices, though it may shape Chinese liquidity and yuan conditions that affect import demand.
fiscalhour.comNov 1, 2026After 169 past neutral macro events, USDCNY moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
