China c.bank makes largest injection of short-term liquidity in seven months
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SHANGHAI — China’s central bank stepped up the injection of liquidity towards the end of the quarter by making the biggest daily supply in seven months on Tuesday.
The People’s Bank of China (PBOC) injected a total of 175 billion yuan ($24.46 billion) through open market operations, including 113 billion yuan through 7-day reverse repos and 62 billion additional yuan via the 14-day term, it said in a statement. statement.
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The PBOC said the higher daily cash injection was aimed at “maintaining a stable level of liquidity at the end of the quarter,” according to the statement.
The daily cash injection was the largest since February 28. ($1 = 7.1545 Chinese yuan) (Reporting by Winni Zhou and Brenda Goh; Editing by Himani Sarkar)
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