6. According to Reuters, On June 17, 2020 "[the People's Bank of China (PBOC) said in a statement that it had injected 70 billion yuan ($9.88 billion) into the country's money market through 14-day reverse repurchase agreements, at a rate of 2.35%, down from 2.55% previously." (a) How much more than 70 billion yuan will it cost (in yuan) to buy back the bonds from the PBOC at the end of the 14-day period? (b) A change in the policy rate can be categorized via the optimal rate rule in terms the change in inflation as follows: . expansionary if the new rate is lower than what the change in inflation indi- cated. . contractionary if the new rate is higher than what the change in inflation indicated. . neither expansionary or contractionary if the new rate is what the change in inflation indicated. If there was no change in inflation when the PBOC changed the reverse-repo rate, was their action expansionary, contractionary, or neither? Briefly explain