在岸、离岸人民币对美元汇率再创阶段新高；2月LPR报价继续持平

Group 1: Monetary Policy and Liquidity - The People's Bank of China (PBOC) will conduct a 600 billion MLF operation on February 25, 2026, to maintain ample liquidity in the banking system, with a one-year term [1] - In February, the PBOC has net injected 300 billion through MLF, marking the 12th consecutive month of increased MLF operations [1] - The PBOC also expanded the scale of medium-term liquidity injections through reverse repos, totaling 600 billion in February, which is an increase from the previous month's 300 billion [1] Group 2: Currency Exchange Rates - On February 24, both onshore and offshore RMB against the USD reached new highs, with the onshore rate peaking at 6.8804 and the offshore rate at 6.8760, marking the highest levels since April 28, 2023 [2] - The strengthening of the RMB is attributed to improved China-US trade relations and increased demand for currency exchange from enterprises at year-end [2] Group 3: Interest Rates - The Loan Prime Rate (LPR) for both one-year and five-year terms remained unchanged at 3.0% and 3.5%, respectively, as of February 24, 2026 [3] - This indicates that monetary policy is still in a wait-and-see mode, with potential adjustments requiring clear signals such as economic slowdown or unexpected external shocks [3] Group 4: Gold Prices - On February 24, spot gold prices fell below 5,200 USD per ounce, declining by 0.52% [4] - Short-term forecasts suggest that gold prices will remain volatile, with geopolitical and policy expectations creating opportunities for fluctuations [4] Group 5: Payment Transactions During Spring Festival - During the 2026 Spring Festival holiday, payment transactions processed by UnionPay and Wanglian reached 39.302 billion transactions, totaling 13.12 trillion yuan, with daily averages increasing by 37.45% and 19.26% compared to the previous year [5] - The growth in payment transactions reflects enhanced consumer spending power and the maturation of payment methods, indicating a recovery in sectors like tourism and retail [5]