# Policy rate shift delivers clarity for market

> China has made overnight reverse repurchase operations a daily fixture since November 2, at a rate of 1.25 percent, replacing the seven-day reverse repo as the main routine policy operation. Analysts say the change completes much of China's price-based monetary policy framework and clarifies policy signals.

- Date: 2026-11-12 · published 2026-11-12T03:10:49.892Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/94828-policy-rate-shift-delivers-clarity-for-market
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Clearer Chinese monetary policy can affect financing costs and the yuan, which indirectly influence demand for imported feed ingredients. The direct effect on grain and meal prices is limited.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-01-27 | [Dollar jumps as markets brace for larger, faster rate hikes \| Reuters](https://feedsoft.ai/events/6268-dollar-jumps-as-markets-brace-for-larger-faster-rate-hikes-reuters.md) | +0.6% | +0.1% |
| USDCNY | 2024-02-20 | [China slashes mortgage reference rates to revive property market \| Reuters](https://feedsoft.ai/events/31896-china-slashes-mortgage-reference-rates-to-revive-property-market-reuters.md) | +0.1% | +0.1% |
| USDCNY | 2019-09-22 | [Markets swing on trade and monetary policy](https://feedsoft.ai/events/57273-markets-swing-on-trade-and-monetary-policy.md) | +0.4% | -0.2% |
| USDCNY | 2022-05-03 | [China \| RMB exchange rate sharp depreciation amid diverging monetary policy \| BBVA Research](https://feedsoft.ai/events/8313-china-rmb-exchange-rate-sharp-depreciation-amid-diverging-monetary-policy-bbva.md) | +1.8% | +1.0% |
| USDCNY | 2018-11-01 | [China to defend 7 yuan per dollar rate, but may find it tough: Reuters poll](https://feedsoft.ai/events/62264-china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll.md) | -0.8% | -0.3% |

## Sources

- chinadaily.com.cn: https://www.chinadaily.com.cn/a/202611/12/WS6af5107ce4b03ebf8519be97.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.