The PBOC launched its first overnight reverse repo at 1.25%, injecting 300 billion yuan ($44.1B). Here's what it means for crypto and global risk assets.

The omission suggests the tool aims to manage seasonal liquidity crunches rather than signal near-term policy shifts, analysts say

The PBOC launched its first overnight reverse repo operation on June 29 without publishing the rate, signaling a shift in China's liquidity management