China’s central bank injects 900 billion into market
The People’s Bank of China (PBOC) conducted repo operations worth 900 billion yuan on Monday.
The central bank injected 700 billion yuan seven-day reverse repos at an interest rate of 2.4% and pumped 200 billion yuan through 14-day reverse repos at an interest rate of 2.55%.
Even so, the net liquidity addition was zero, as 900 billion yuan of reverse repos matured Monday.
The fresh liquidity injection aims to offset the impact of reverse repos maturing and to keep liquidity in the banking system at a reasonably sufficient level, according to a statement on the website of the central bank.